As a competitor at least it makes sense. As a heel maybe it doesn't quite make sense but as a competitor it makes sense.

If you had a free title shot at any time, wouldn't you take as many title shots as you could BEFORE you absolutely had to cash that freebie in?

Again, that would be Cena's logic. I don't know if your top heel should think that way. The heel thing to do would be for Rollins to announce he's cashing in at Mania and then insist he's NOT wrestling until then and make a troll job out of it for two months. That'd be great.