Eric jobbed to Flair, center of the ring, clean as a sheet, not only losing the WCW presidency but also some of his hair.
A day after their ppv match with all the buildup, hype, and other such shit ended with Flair jobbing to Bischoff. It wasn't all that grand, and Eric ain't a great guy- he was just giving the win back after the collective groan was so easily heard the night before.
I don't see how Bischoff could be worked into the angle, logistically speaking. If Vince is bringing them in, why would they need a manager?
They could turn on Vince.
I would love to see Bischoff come in, agree to do one thing, then shoot and do something totally different, just to fuck with Vince. I just think that would be funny. Other than that, I see no use for him.
If you set your expectations low enough, you will never fail.