Although I can't argue the SSlam point, there's one point that can be made.
If Goldberg squashes everyone on Raw (like HHH), and in some cases, several times over, will anyone care a month later? No, probably not. Goldberg is just another Steve Austin, except he couldn't work a good match if his life depended on it.
It was just a breath of fresh air to see Goldie dominate everyone moving. Although it was cool, I still don't like him and didn't want him to win, making me a Honorary Triple H fan for all of 10 seconds.
To be fair you are perfectly right. After he's squashed everyone, there is no point. However I think the WWE did this to themselves. If they'd just started him off squashing jobber after jobber for a few months then maybe dominate the IC division for a while before stepping up, a bit like he did in WCW with the US belt, then maybe some longevity may have been obtained.
But bottomline, Goldberg's contract should NOT be renewed.