It really would've. The easy made storyline would've been him winning capping off over a year of him getting his shyt straight. It even would've still worked with Christian having the title now because you still have the angle of Moose being the person to finally bring the belt back in house. But now, he's taken enough losses over the last few months in number one contender matches that he's back at square one as far as credibility.
At this point, outside of their clear interest in making Ace Austin a thing, the other clear option is Josh Alexander.
It seems like once Moose re-signed they started treating him worse than when they were unsure if he would re-sign.