I think he would.
After seeing him bulk up with all those weights and roids I actually think he was aiming for HW.
Sure, maybe he was campaigning for "the right matchup" first and foremost (moneyfight with Lesnar) but I think he would dare to fight Stipe sooner or later if he had cleaned out LHW.
But who knows if fans would ever agree he had fully cleaned out LHW, or if we would've wanted him to stick around forever.
I mean, Volkan flew in from nowhere and became a contender in 6 months.
If Jones had not gotten suspended, he would've probably been expected to fight Volkan.
Gus 2 would be popular as well.
And even though a DC 3 rematch seems unnecessary, some fans would probably say DC should earn another try just cause he's retiring.
Or if Jones had been popped and got a light suspension they'd say "Let's see if Jones without PEDs can handle DC"