Well, I just see that as only one component. If the only reason to make changes to your company and help boost your confidence to do so depends upon another company's success, that just shows the weaknesses in the management and creative staffs of the WWE. Evidently, that has seemed to be the case with the WWE for the past 7 years. Ultimately, the primary company that pushed the WWE to finally change its product around in 1997 was the WWE.
Also, I could argue about the company's "lack of money" too. The economic decline of Vince's company is one of the main reasons why he knew he had to make changes. If you don't have the funds to bring in or keep some talent, then the presence to take high risks and make changes should be even greater. Take for example ECW. Although a relatively regional promotion, ECW broke pretty much every taboo associated with American Wrestling during the 1990s, and it was that type of product and business/creative philosophy that ultimately got them noticed nationally and pushed them to levels that no independent wrestling promotion had ever gone then or since.
Yes, WCW's initial success was enough to make Vince think about the status of his product back then, but he ultimately saw the financial decline in his company and he knew he had no choice but to take a chance and make changes in order to build popularity and revenue within his company and he did. Now, the company has their monopoly and they are seeing that it's not quite fun being on an island by yourself with a small coconut tree beside you known as TNA.