#2 Worst Choice - The Miz
Like Shelton Benjamin, The Miz winning any type of "star-making" match seems like relying on the past. While the WWE clearly utilizes that strategy more often than not, he is perfectly fine by not winning this.
His babyface run, although greatly needed, has sort of hit a stalling point recently after losing to Shane McMahon multiple times. Miz has already won mid-card titles several times, so giving him another accolade at this point seems like a detriment to the overwhelming plethora of hungry young Superstars who need that one push forward.
If he did win the tournament, it might be a reward for constantly putting over Shane. It would be a mistake, but he has been a loyal company man. If his show gets more popular, a win could also be a reward for that. The Miz still has his place in the company and he's worked hard for it. It's just that there are many newer stars that are just as or even more hungry now.