CM Punk has made his intentions clear that he wants Hangman Page's AEW World Championship. Punk, who held the WWE Championship for over a year, made his official AEW debut in August 2021. Since then, he's had numerous matches with up-and-coming talent, most notably having a standout rivalry with MJF. In recent weeks, Punk has indicated that he wants gold around his waist, and on the April 20 episode of Dynamite, he went face-to-face with the current AEW World Champion.

RELATED: 10 Matches You Forgot CM Punk Competed In

CM Punk is without a doubt a legend of professional wrestling, but should Tony Khan put the strap on the Illinois native?

Update: "Hangman" Adam Page vs CM Punk for the AEW World Title is officially scheduled for Double or Nothing 2022.

10 Shouldn't: CM Punk Hasn't Moved The Needle All That Much In AEW

CM Punk initially brought a ratings bump for Dynamite and Rampage, but that didn't last long. In the long run, his presence hasn't made much of a difference in AEW's ratings. Many fans have long dreamed of Punk's return to wrestling, then they got it in AEW, and now the ratings are more or less back to where they were before he came to the company.

Punk can still put on great matches, and his program with MJF was wrestling storytelling at its finest, promo and wrestling-wise. But he isn't as much of a draw as people would have liked him to be. Punk's presence did pique the casual fan's interest upon his return, and now it's back to the core audience of AEW that was here prior to Punk. Whether it's AEW's booking or Punk himself, he wasn't able to keep much of the viewers he initially brought in.

Punk's in-ring debut in AEW happened at All Out 2021, which received the biggest buy-rate in AEW history, with an estimated 205,000 purchases. But by Full Gear, PPV buys dipped down to around 145,000. It's estimated that AEW's last pay-per-view, Revolution 2022, received between 146,000 and 170,000 buys. For comparison, the last two PPVs before Punk's debut received around 115,000 (Double or Nothing) and 135,000 (Revolution 2021) buys respectively.

9 Should: Much More Of A Star Than The Current AEW World Champion

"Hangman" Adam Page is a great in-ring worker, but he doesn't come close to having the charisma or star power of someone like CM Punk. Page's reign as world champion was not only greatly overshadowed by Punk's program with MJF, but Chris Jericho's match with Eddie Kingston at Revolution felt more important than Hangman's clash with Adam Cole. When it came time for the last pay-per-view, Hangman vs Cole went on last but resembled an upper mid-card affair at most. AEW would then continue the feud with Cole and Hangman despite it lacking the appeal of a top-card contest, while also throwing in shenanigans like the former Undisputed Era becoming title thieves.

RELATED: Hangman Adam Page's Career Told In Photos, Through The Years

Page is a world champion without having the complete package necessary for a world champion. CM Punk, on the other hand, is so much of a star that WWE attendees were chanting his name for years while he was away from wrestling. Based on star appeal, if we're to choose one or the other as the world champion, the title would have to go to Punk.

8 Shouldn't: AEW Shouldn't Become WWE Lite

CM Punk hasn't competed in a WWE ring since January 2014, but he's still most recognized for his time in McMahon's empire. There have been only four AEW World Champions, half of which were former WWE stars. The inaugural champion is Chris Jericho, a six-time world champion in WWE. Jon Moxley, who's most famous as Dean Ambrose in WWE, became the second-ever AEW World Champion. Similarly, three out of the six TNT Champions were former mid-card champions in WWE. And more and more talent are pouring in from WWE, such as William Regal, Bryan Danielson, Toni Storm, Swerve Strickland, Keith Lee, and three out of the four members of The Undisputed Era.

WCW and Impact Wrestling had a habit of pushing former WWE stars over their own talent. But at least WCW had the drawing power of Hollywood Hogan and the nWo, something CM Punk does not currently possess. And in the end, WCW's overreliance on ex-WWE talent would become their undoing, with the Finger Poke of Doom, a largely unchecked Vince Russo at the helm, and longtime mid-carder Jeff Jarrett becoming a multi-time world champ in short order. But to Russo and Jarrett's credit, WCW was in bad shape beforehand. And although Impact Wrestling is still around, pushing familiar faces from WWE didn't stop them from becoming a running joke with a significant segment of the IWC and an afterthought when it comes to mainstream wrestling. WWE castoffs were routinely pushed ahead of Samoa Joe, AJ Styles, Christopher Daniels, and the many other wrestlers that made TNA distinctively TNA. AEW needs to harness its own identity and not make the same mistakes that WWE's past competitors made.

7 Should: CM Punk Is Still Performing At A Top Level

CM Punk's feud with Maxwell Jacob Friedman showed the wrestling world that the Best In The World can still live up to that moniker. It's only a few months into the year, and he's already been involved in a rivalry that has 'feud of the year' written all over it. Punk can still pull off a great match and is still one of the best on the mic. Adam Page is the AEW World Champion, but Punk is still levels above Hangman as an all-around performer.

Punk has been able to pull off a worthwhile match out of everyone he's wrestled so far in AEW. He's a top-level competitor with or without the company's top title. But it may be wise for AEW to strike while the iron is hot rather than wait until Punk cools down. Punk is coming off of a red-hot rivalry with MJF, and the world title picture is the next logical step. Tony Khan should pull the trigger on a CM Punk title reign while he's still performing at a high level. And at 43 years old, why wait it out for Punk?

6 Shouldn't: CM Punk Doesn't Need Another World Title Reign

CM Punk is already a living legend of professional wrestling, he doesn't need any more accolades to prove his worth. While wrestling for WWE, Punk added six world title reigns to his resume (this includes his ECW Title reign). His last run as WWE Champion lasted 434 days, the longest run with the WWE Title since Hulk Hogan's four-year reign in the '80s. And even before his time in WWE, he was the ROH World Champion.

RELATED: 5 Things Tony Khan Should Do With ROH (And 5 He Should Avoid)

What more does Punk have to prove? He's an icon with or without the title. His fans will love him regardless. If he were to retire without becoming AEW World Champion, he'd still be considered one of the best ever.

5 Should: Dethroning CM Punk Would Be The Best Story For MJF's AEW World Title Victory

CM Punk and MJF are currently tied at one win apiece in their rivalry. To find out who's truly better in a feud, wrestlers often seek out a rubber match. And considering this rivalry is already one of AEW's best, why not make it for All Elite Wrestling's top prize?

There is a much larger story to be told from MJF winning his first World Title from his childhood hero rather than a millennial cowboy. Considering their incredible Dog Collar match at Revolution, both men have already proven themselves worthy of holding a reign with the AEW World Championship. Punk should go first and then use his reign to push the future of pro wrestling to the top. MJF could be the heel to spoil AEW's Summer of Punk. Or maybe AEW fans will have to wait for the Autumn of MJF.

4 Shouldn't: AEW Hasn't Properly Booked Punk As A Special Attraction

CM Punk was the talk of the wrestling world when he made his AEW debut. His first match was against one of AEW's four pillars, Darby Allin, on pay-per-view. But rather than capitalize on Punk's momentum by placing him in a top-level rivalry, AEW books him in a feud with Team Taz. Tony Khan should have put Punk in a ring with Kenny Omega and not with lower-card guys in a competitive manner.

RELATED: 10 Things About Taz's Career That Made No Sense

Punk's matches on AEW TV sometimes feels randomly thrown together. And while it could be considered virtuous that CM Punk is willing to rub shoulders with wrestlers like Lee Moriarty and Daniel Garcia, it's at the expense of Punk and AEW. Even though Punk would come out victorious while giving a spotlight to lesser-known talent, Khan is booking Punk in throwaway matches on free TV that shows Punk being seriously challenged by wrestlers with little name value.

3 Should: AEW's Summer Of Punk

There was a Summer of Punk in ROH and WWE, both of which were well received by wrestling fans. The summer of 2005 and 2011 were pivotal points for CM Punk, and the summer of 2022 could be another benchmark in Punk's career. As previously stated, Punk has already proved he can still compete in big match scenarios, so there's reason to believe he can effectively pull off a high-profile main event program. The third Summer of Punk could be what AEW needs to stand out in a competitive marketplace of wrestling and sports entertainment.

Punk vs Page appears to be the next major feud for the AEW World Title. That match might take place before the summer begins. But if this program involves more than one match, then it will likely spill into the summer months. After putting over Hangman in their first encounter, Punk should emerge victoriously during his second attempt.

However, unlike WWE and ROH's Summer of Punk, Punk's big summer storyline in AEW might not involve him talking about leaving the company with the World Title.

2 Shouldn't: Where Does That Leave "Hangman" Adam Page If Punk Wins?

CM Punk beats Hangman for the title, then what? Punk would be knocking Adam Page off his perch, and there'd be no guarantee that he'd ever reach those same heights. Page's championship reign has been lackluster, especially compared to Punk's feud with MJF. Sure, Page beat Adam Cole twice, but that wasn't exactly a standout rivalry. Since defeating Kenny Omega for the gold, Hangman hasn't felt like much of a world champion. And if his title reign isn't redeemed soon, it'll be hard for Hangman to recover once he loses the gold.

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No matter what the critics might say, Adam Page is still a main event wrestler. But that might not be the case if the Summer of Punk 3 comes at his expense.

1 Should: CM Punk Can Use His Reign To Highlight Up-And-Coming Stars

While there's definitely criticism to be made about Punk working with lesser-known competitors, it also goes to show Punk's willingness to give back to the wrestling business. Punk has arguably shown a high level of unselfishness by agreeing to go up against wrestlers who aren't marquee names, thereby highlighting the talent of his opponents and exposing them to the casual wrestling fan who's interested in Punk's comeback.

Punk can use his title reign to highlight the abilities of wrestlers like Sammy Guevara, Jungle Boy, and Wheeler Yuta. Considering Punk's track record in AEW, there's a good chance that wrestlers like Yuta and Guevara will be getting a spotlight.