Condit's gameplan was perfect; it completely neutralized Diaz' strengths. There was nothing chicken about it.
Which means he is the interim WW champion. He has nothing more to prove to earn the "right" to face GSP. He did that last night.
Now that doesn't mean Condit doesn't defend his title. GSP is targeting November as the earliest he'll fight which is 10 months away. It could very well be December or New Year's if the UFC decides to use George on one of the big year end events.
And with Sanchez vs Ellenberger is a couple of weeks it's not out of the question Condit faces the winner in June or July.