Time for bluexy's patented speculation bit.
Cody and Brandi have both been, piece by piece, removed from AEW's business organization over the past two years. Cody's work with Tony ended after he left for the first TV show recording. Cody has been booked less and less each time he's gone to film a show. Cody has been involved in smaller and smaller storylines over the past two years, too. He has, notably, still had creative control of his own stuff, which we can likely all assume was part of his contract.
I'm frankly surprised we haven't started talking about this sooner. I'm persuaded that Tony has been wanting to shrink the higher level linvolvement of the Rhodes (or... everyone) in AEW for some time now. That doesn't mean I think Tony dislikes Cody or Brandi. But rather that he wants them both in a position with the company equal to the vast majority of other talent in AEW. In other words, no say in booking whatsoever. No personal office. And, unfortunately for Cody, that likely means significantly less $$, too.
That's obviously not what Cody would ever want, especially given his ego over helping start AEW and being in two big TV shows. To the point where it's probably insulting to Cody, as opposed to just business. That's the only reason that makes sense for him being willing to go back to WWE when they spent years embarrassing him and his family. He's high on his own petard and WWE is willing to assuage that -- and AEW aint.
I believe your your post is incredibly reasonable!
Throughout the past couple of years there have been reports every once in a little while that Cody and the rest of the EVPs don't get along anymore, Cody stories have always felt like a separate part of Dynamite, and having watched a little bit of the backstage through Rhodes to the Top it might have gotten to his head that he was a bigger deal that he probably was with his own locker room. Looking back while there were a few good moments here and there, some of the worst moments in AEW have involved Cody and Brandi. On Rhodes to the Top there were a few segments where you could see Tony growing frustrated as a segment was getting off the rails.
Ultimately it's a good idea to not have the EVPs pushing their own storylines, but pitching ideas to Tony instead just as every other talent.
Not a single one of us can ever judge Codys motivations, and despite him being so against WWE in 2016 people do change. Whoever we are today is not who we were yesterday but also certainly is not who we're going to be tomorrow. He has a family, and the pandemic happened since he helped start AEW so he could have very different priorities nowadays so i can't judge him for that, but personally it would not had been my choice.
With that said, I have been posting on the AEW OT for quite some time that I am legitimately worried for AEW in the long term, Tony needs to get a few people to help him with the booking of the show and to make better use of the roster.
Every few weeks someone comes in as if they are a big deal, do a decent to okay match and get the All Elite tweet and then drop off like Tony Nese.
There are entire factions that have disappeared, storylines dropped, wrestlers get random pushes only to disappear again.
I love AEW and it's the only show i can support but it's not without it's issues and more and more it seems to just have replaced NXT with the constant new signees