Isn't that the point of his character? He's meant to be walking both sides of crazy. The first where his 'Dashing' character is afraid of showing his face in front of the crowd, the second where he goes potty because he's mad he isn't actually 'Dashing' anymore.
P.S. the mask is actually a pretty cool weapon to have. If Cody lacked any believability then that mask helps him, as does wrestling in the suit. He would look more credible imo wearing the suit trousers as attire. It at least covers up the fact that his legs are still very skinny in comparison to his torso.
Rhodes has been awesome since he started wearing the sugrical mask. Going to the ring in a suit works nicely too. If Mankind was Wario, "Dashing" Cody Rhodes has turned into Waluigi. (Nintendo fans know what I'm talking about).
His character is based off many pyschopath cliches from films. Which in a way isn't so cliche, as we don't get all too many of them in wrestling. Think the last one was Mike Knox and the last relevant one was...Mankind?
This psychotic character actually makes more sense to me than the straight up "Dashing" one does because to me, why on Earth would a guy who is obsessed with his looks and doesn't want to get hit in the face work in a combat sport for a living? Sounds pretty self destructive to me, and only a crazy person would do something like that. Well now they've revealed that he's crazy! It actually makes the character make more sense. Its like "yeah, I knew that fucker was off his rocker"