When Cody Rhodes first debuted in WWE, he didn't really seem destined for greatness. Sure, he is the son of Hall of Famer Dusty Rhodes, but as a member of Legacy, who always played third wheel to Ted DiBiase Jr. and Randy Orton.
Orton was the top heel and DiBiase seemed like a future main eventer, while Cody just stayed in the background. After the group split up, things stayed to same for Cody. Sure, he adapted a new "dashing" gimmick, but nobody really cared about him.
However, things quickly took a turn for the better.
After being injured on a botched 619, Cody wore a mask and captured the persona of a disfigured, disgusted sick heel. I for one, absolutely ate it up. Rhodes quickly sky-rocketed to the top, eventually capturing the Intercontinental Title. Cody was finally proving his worth, both in the ring and on the mic, as the fans were beginning to realize his potential. Rhodes was destined for greatness, and it seemed like it would only be a matter of time.
While the fans were certainly high on Rhodes, rumors were swirling that those who worked in WWE actually contemplated placing him in a feud with WWE Champion CM Punk. However, that is yet to happen, and now that Rhodes is without his title, he finds himself in the classic "creative has nothing for you" situation.
As of now, Rhodes is involved in a feud of some sort with Sin Cara, but it has been pretty boring and really means nothing. Not to mention, Cody has been on the losing end of this feud, and his stock continues to fall each and every week. Rhodes has everything it takes to succeed, but WWE has simply been wasting him away.
With talk of an NWO return (h/t PWMania.com), Rhodes would fit perfectly into the stable. Cody's twisted character would add a nice touch to the rebellious bunch. While some may be against it, I am all for Rhodes being involved in the return of New World Order.
It seems obvious WWE realizes the value of Rhodes, but they just can't figure out what to do with him. While Rhodes is still a great asset, the longer he stays irrelevant, the weaker his character becomes. Cody can only lose for so long before the fans start to stop caring. Like I've said before, he has all the tools to succeed and will one day be in the main event, but it may take longer than most have hoped for.