I'll try to address it - and my answer is devil's advocate as I do lean to the side that Cody should have been made champion.
- The best business the WWE has made in years (between WM38 and WM39) is with hot characters chasing
- Fans tend to view what is best for business as changing titles at peak moment. But business wise this isn't always best -- WWE runs a 12 month calendar -- TV and PPV's/ They could think there is a lot more money to be made by stretching a good story out longer - the peak moment for a change is always WM, but $ wise its not always the best moment. They have to give fans quality content throughout the year.
The risk of not doing things at peak is losing fans of course. So its not staight X vs Y comparison either.
- Also have to think of what are you going to do once Cody is champion - are their good long term stories there.
- Roman at a champ is the rock behind storylines working. A strong champion can be the basis for stronger chasers. Maybe they think they have some strong storylines down the pipe, that are better than fresh matchups with Cody as champ.
As I said this is all a bit of a devil's advocate view.
Cody apparently has done remarkable merchandise, and has had a huge impact on house shows. Which Roman typically does not do (house shows that is). There was real concern (all over the net and here) that Cody would face some backlash after the Sami fallout, and he really didn't. I think all matters considered it was the time to go with him.