I dont get nostalgic for the 90s WCW, at its best too many top talents were buried to further the Hogan-Nash show, even when the ratings were good the shows were often bad, the WCW stars were consistently buried in the NWO angle (which got ridiculous after Starrcade 97), I dont miss that at all, and I was always a WCW guy, this isnt a WWE fan biased against any non Vince McMahon related wresting shows posting here.
I will say that the product as a whole was better when you had two national promotions with major TV exposure operating at once. Unfortunately TNA has never come close to being a national presence comparable to WWE. Realistically wrestling almost died in 1991, the AWA essentially was done, as was the UWF & World Class. The USWA was still around (Jerry Lawler) but they didnt have a major TV deal and had no touring presence outside the greater Memphis area. WCW was almost dead, and WWE was getting very formulamatic and dull. Two years later things got much worse as WWE's New Generation Era lead by Brett Hart chased away fans by the millions, boring the rest who remained to tears. WCW offered little in opposition other than their main events, but at least you had an alternative, and if nothing else Hart, HBK, Flair, Sting, & Rude delivered some really good matches. Ultimately the business decline inspired both brands to push the envelope in efforts to re attract old fans, and
a boom period was slowly born.
The era that Im nostalgic for is Jim Crockett's NWA, the awesome tag team matches between The Rock & Roll Express, The Midnight Express, The Road Warriors (one of the first examples of true heel characters who promoters were forced to turn face because fans liked them so much they were cheered even as bad guys, 10 yrs before the Stone Cold phenomenon), the original cool heel gang The Horsemen, the super popular Anerican hero Dusty Rhodes, great young talent like Magnum TA, Lex Luger, Sting, entertaining mid carders like "Gorgeous" Jimmy Garvin w/ Prescious, the NWA product 84-88 was far more balanced and entertaining than any other period post 1980 in WCW. It was also much more entertaining in terms of promos and definately in match quality than WWE.
I agree a lack of serious competition does hurt the current product. I an nostalgic for old WCW, but not mid to late 90s era, I miss the mid 80s era Jim Crockett era NWA, that was a great time for quality wrestling.