So how does CM Punk not deserve it? He has the reactions, a large number of matches under his belt and, while no really great matches while in WWE, a handful of good ones. Otherwise we have a bunch of also rans who shouldn't be carrying the title right now, but will get their chance again or JBL who can't carry the belt right now and argubaly shouldn't have in the first place.
That's a good start.
Also, I think Jericho hit the nail on the head when he said he deserved the shot (and the title, IMO). The only reason CM Punk is champ is because he's clean. He doesn't do 'roids or drugs. It looks good for the WWE.
But, one thing I learned when I was involved with the business...
You have to EARN your role in wrestling. I don't feel CM has. I don't think Regal thinks so, either, with the stiff ass shots he was dishing out!
Love him all you want, but CM is not championship material, and it pains me to see him wearing the belt Flair made so prominent.