1) because they don't see the money in it 2) because they're putting out over 12 hours of content every week (more if they have a PPV). 3 hrs Raw, 2 SD, 1 SS, 1 ME, 1 AM Raw, 3 recap shows, 1 hr Total Divas 3) Everyone who could feasibly be involved has better things to do. There's a reason Byte This was axed. 4) Combining the above results in it being a bad idea. 5) Colt Cabana is terrible.
I would love an official WWE podcast. Get someone like Kevin Eck to do an hour or two every week I would definitely listen to it. I use to listen to Smart Wrestling fan but they became way to negative I would really enjoy a regular podcast by someone who enjoys watching wrestling and talking about the WWE.
If it can make money, WWE will do it. They plugged Austin's show a couple weeks ago so I know they are paying attention. I wouldn't doubt at all that they have one in the works. I think Miz is a natural choice to throw into the podcasting foray. That or you get someone like Josh Matthews to host a weekly show where he interviews different superstars and various backstage personalities. I would listen to the hell out of that.