The issue is not that Punk lost, at least not entirely.
A lot of it is this: the cheating with the ropes shit (or heaven forbid the tights) is just silly nonsense at this point. For christ's sake it just looks weak. He got a dominating pin because one hand was stretched out and grabbing ropes? Come on.
I have nothing against heels cheating to win, thats their thing. But you've got to be more creative than this. It's called going through the motions, and it's really, really apparent. You only have to lay out like twenty minutes of wrestling a week, only two or three finishes a week, and you can't do something better than this!?