I have a feeling they are doing a very slow build to an eventual CM Punk heel turn. If I remember correctly in either some documentary I watched or some article I read Punk enjoys being a heel and prefers it. This CM Punk embracing the love and fans and almost being way too over the top lovey dovey, I think is a very slow burn to an eventual heel turn that will be maybe Hogan nWo like. Well, maybe not that level because people may see it coming, but it'll be huge.
Right now AEW may be heel heavy, but there are so many big names now on the roster that AEW can really put over their younger guys by turning some of the veterans heels. If Punk can turn into a legit heel imagine how he could elevate a guy like Allin, or some of these younger stars. As a face he can't really put over the younger heels. But in order to make a realistic Punk heel turn you got to let him soak in this fanfare and have him express how much he loves it and the fans eat it up and praise him. It'll be interesting.