I read Simmons' thing, too. (I think he's pretty worthless at this point but he has some good takes here and there.)
The Summer of Punk angle fizzled because it blew up so quickly. I don't think they were expecting Punk to get all of the mainstream exposure he did so quickly -- he was on Simmons, Kimmel and was interviewed by GQ Magazine. They were REALLY getting there with awesome stuff with his retirement, with him taking pics of the title in his fridge and showing up at Comic Con to harass HHH.
But the WWE has shareholders and quarterly earnings to report and it makes them hard to take a long-term view to storytelling. Punk was hot and they thought his advertised return in a match against Cena would pops big rating. But, after the rematch, it went nowhere.
HHH is definitely interesting. I hate HHH when they're doing their occasional DX reunion. But I don't hate him outside of that -- he always gets a reaction. But the problem with HHH/Punk is that it didn't go anywhere. On paper, the ground was laid out perfectly and has some epic storytelling behind it. HHH becomes his father-in-law, trading in the denim jacket for a business suit and has to try and manage the new man-of-the-people who, in true punk rock fashion, hates any authority figure. HHH has to capitulate to Punk's demands to return and is humiliated and tries to get revenge.
The problem is that HHH wouldn't "show ass" as they say. And then the other problem is that they involved a terrible Kevin Nash for some reason and tried to make it this "Where do all the pieces fall" soap opera thing that ended up going nowhere.
If they kept it simple:
1) HHH recruits Del Rio to be the new corporate champion.
2) Punk upends Del Rio (after trading the title a bunch). Vicki Guerrero convinces HHH that Dolph is the next superstar and is cut from his image (after trading the title a few times).
3) Punk wins this feud, only to have to deal with HHH bringing in his old friend Jericho -- the old-guard defends its own.
As far as the Melo analogy goes -- it's not too far off the mark, especially if you equate JR Smith to Kevin Nash.