The WWE is bad depending on what type of fan you are. If you're a fan of hardcore wrestling such as when ECW was in its prime with gratuitous use of blood, strippers and porn stars running around and wrestlers dropping swear words like coins into a wishing well, then you probably hate the WWE. Don't get me wrong, if you're into that sorta thing, then great. Different strokes for different folks I guess.
Personally, I think the WWE overall has been better in 2010 than it's been in a long time. I know that some fans continuously harp on the PG Era, but I really don't know what for as wrestling as a whole in North American has been PG historically for its entire existence. Pro wrestling in North America has always primarily been geared towards all age groups. The wrestling that I and my generation grew up with was very much and every bit as PG as the WWE is right now and we had ourselves a grand ol' time watching it.
When I was in my teens, I was a fan of the Attitude Era. The Attitude Era had its uses and it was unique, most definitely. Pro wrestling became mainstream again during the Attitude Era because pro wrestling was depicted in a way that the vast majority of wrestling fans and the mainstream media in and of itself had never seen before. Pro wrestling became a fad again due to the Attitude Era and the Monday Night Wars. Like most fads, however, the people that'd watched it because it was "cool" and the latest thing moved onto other things. The Attitude Era did have higher ratings than the PG Era but those ratings went away long before the WWE officially went PG. The ratings started to dwindle during the years in which Raw was on Spike. For some reason, PG is equated with being "kid stuff" and it's something that some that hate the WWE inaccurately use to bash it. Most of the WWE's audience are men in the 18-49 range, the key demographic supposedly. You can have quality PG programming just as you can have shitty R-rating programming.
When it comes to the Attitude Era, the only thing I think that it had superiority to overall over the WWE now is ratings. Too many fans have this idealized view of the Attitude Era and I'm pretty sure that some remember it as being far better than it actually was. There was definitely good stuff with The Rock, Stone Cold, Mr. McMahon, DX and all that. There was also a lot of shit that people tend to gloss over like the Katie Vick angle, most of Raw's matches lasting maybe 2 minutes, the Divas coming out and being complete wastes with their pillow fight matches, Val Venis, etc. All the chairshots to the head were unfortunate and most of us didn't consider the consequences of such acts, me included, until it was too late. There are wrestlers in the PG Era that still give great promos. I don't need curse words to enjoy myself. If someone uses them, great, if not that's great too and, generally speaking, the quality of the wrestling content overall I think is superior to the Attitude Era. The WWE did have great matches during the AE, don't get me wrong on that, but they were few and far in between generally speaking.
As I said, if you're a fan of hardcore wrestling, then you won't like the WWE. Personally, I'm not generally a fan of hardcore wrestling. It's a fun little treat every so often. But, generally speaking, it takes no skill to be a hardcore wrestler. As long as you have some noticable sado-masochistic tendencies, then you've got what it takes to be a hardcore wrestler.
Now the WWE isn't perfect, nor is any wrestling company. Sure, the WWE does some things at times that I don't like just as they do some stuff at times others don't like. That's just how the ball bounces. That's how it is with EVERY form of entertainment whether it be "legitimate" sports, sitcoms, dramas, other wrestling promotions, even animated shows. If you sit and nitpick, you can find something to complain about in regards to anything. If you genuinely don't like the overall product that's being put out, that's fine. There's other stuff out there.