The match between Ryback and The Miz lasted all of four minutes, immediately following that match they aired "Be A Star" video package with Stephanie and Otunga, following that backastage brawl with Eve, Layla and kaitlyn, following which josh mathews interview with Sheamus with his mattel toy. All of those lasted 12 minutes including the Ryback match. Daniel Bryan has already made his entrance two minutes before the quarter ended.
Also, agreed with Sandrone on the 8:30PM timeslot, seems like they are trying to establish that for big angles.
I'm curious how many people tuned out AFTER the Ryback match. If the dropoff occurred then, as opposed to during it. I suspect a lot of people may have stayed tuned in until Ryback's match and then left to watch the debate or MNF. If Ryback was only present during the first 1/3rd of the segment he was in, it's not logical to give him all the blame for it if WWE ran a bunch of terrible crap for 8 minutes after his match and the segment's gains/losses were merged together.
And as for the 8:30 timeslot, I think they try to start big angles there to compete with MNF since that's when the game starts.
Raw was never 3 hours regularly when Cena was champ either.
Yet, Raw has had three hour shows several times in the past and never done that poorly. Raw's three hour show theme has been around now for months, and it's been bombing since Cena went out and Punk was the sole main event. That happened quickly too, so I don't think it's a coincidence. If you bing "wwe ratings", one of the top searches is, "WWE RAW ratings plummet with CM Punk as the main star", and that's back in May after Lesnar left and Cena was supposed to be "hurt".