Orton had already established his reputation by being the longest reigning IC champ in the past 7 years. In that regard, I don't think taking the belt off of him was necessarily a bad idea.
HOWEVER, I don't think the belt suits Edge. I would rather prefer Benjamin holding the belt, but the WWE originally had high hopes for Edge before his injury. In fact, if Edge wasn't injured, he would've gotten the main event push Guerrero got earlier this year.
Personally, I don't find Edge entertaining.