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I think the outcomes of matches matter. So yes, wins and losses do factor into credibility. See: The Shield.
WWE likes to make guys lose to build up credibility for their latest project. And that project usually fails. And both guys end up looking like shit. Putting Axel over guys who already have something going for them right now only serves to make them look worse when Axel fails and starts jobbing again in a couple months. It takes a shitload of time to build credibility and jobbing out your somewhat established guys to a guy like Axel is a good way to continue the trend of everyone being muddled in the middle of the card and no one being really over for good.
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