Bad through little fault of his own. His booking has been abhorrent, he hasn't been given a single big moment as champ, and they simply don't present him as a threat and a legit champion whatsoever. The reasons for that boil down to this whole Jericho thing, which while entertaining thwarts the defining character trait of Owens that made him popular in the first place: a prizefighter. He's a heel who actually beats people up without the need for heel tactics and does it for a "prize", be it a title or for his son. They've completely stripped that aspect of his character away and made him a fat funny p*ssy instead of a fat badass bully. Add that to the fact Sasha and Charlotte have been getting the big moments on Raw and PPVs while Owens plays second fiddle, and the fact that they book Owens in the same couple of matches every week, and the fact that they never followed up on the Triple H thing right, and you get a shytty ass world title reign.