The guy never drew shit. Ever. His matches big matches tend to work around the same story, opponent works the back, Michaels sells then does his own hulk up thing which is ridiculous for a man who looks like Michaels. His bumping for big men is ridiculous. His promos are usually weak, however his mic work with Jericho has been good. He can go out of his way to make pro wrestling just look stupid. He was a whiny bitch who would have been fired years ago if it wasn't for Vince loving him.
There are more reasons but I couldn't be arsed going into them.
Never drew shit? Maybe that's because the product as a whole was terrible at the time, and he was going up against the nWo? Pretty sure the ratings also went up each time he won the belt, excluding 2002. That same story argument is complete trash and always has been. His promos weak? He's cut some of the best promos in the last few years, Old Yellar and Montreal spring to mind? Plus, he's a natural heel, so obviously playing a face for 6 years means his promos won't be as good as they could be. Out of his way to make pro wrestling look stupid? How about credible as he's a guy who can get a decent match out of people like Chris Masters, and the fact he's but putting over people left right and centre? He was a whiny bitch, but is he now? No, so there goes that argument.