It helps that during the course of the storyline, Vince was capable of minor miracles, like walking on water.
It also helps that everyone knew perfectly well that God had better things to do than manifest physically at a wrestling event and that it was basically a glorified handicap match against Shawn.
It's even worse when you realize that Michaels is a born again Christian.
It just makes Joey Styles's work/shoot promo against it even more awesome since he was saying what the rest was saying when watching that angle.
Also, God was portrayed by a spotlight, meaning that Vince and Shane had to start throwing themselves around whenever the light got near them.
This will likely be the reaction of the WWE announcers if anybody ever manages to break The Undertaker's WrestleMania streak. The Undertaker is considered somewhat of a demi-god in kayfabe storylines and has been compared to The Grim Reaper or the Devil.
Hell, this the reaction of announcers any time someone manages to beat The Undertaker period. The best example probably has to be when The Great Khali did it, because the announcers' reactions for the next five minutes was them basically shouting at the top of their lungs, "WTF? HOW THE SHIT DID HE MANAGE TO PULL THIS OFF?"