I think The Brain made an excellent point on the first page of the thread. A lot of people, particularly net fans, became fans around the Attitude Era or were just becoming familiar with or watching wrestling about that time. The Attitude Era was about pushing the limits, often doing controversial things just for the sake of being controversial. Not to say that it wasn't entertaining a lot of the time, but it couldn't last forever.
Even prior to the start of the WWE going PG, there were plenty of raunchy and "edgy" things going on in the WWE, yet the WWE still didn't draw the ratings that they did at the height of the Attitude Era. The Attitude Era had a lot of factors working for it that made it work. It wasn't just the controversy or the swearing, it was the stars that the WWF had and the fact that they were in a legitimate wrestling ratings war against WCW. All this stuff couldn't last forever.
Prior to the Attitude Era, professional wrestling in general was very much PG oriented. If you look all back through the history of televised wrestling, the vast majority of it would be considered PG. Georgia Championship Wrestling, Championship Wrestling from Florida, World Class Championship Wrestling, American Wrestling Association, Mid-Atlantic Championship Wrestling, Central States Wrestling, Mid-South Wrestling Association, etc. were all companies that would have been rated PG in terms of overall content and were more "faimily oriented".
Too much is often made about the PG rating. Like a lot of things, it's a "problem" that far too many blow out of proportion. If the WWE went back to TV-14, I'd have no problem with it as long as I'm entertained. However, it takes more for a wrestling product to be considered quality, in my view, than a few four letter words and half naked bimbos running around.