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Butch Reed left the NWA for the WWE and was in the mix for the IC title, indeed he was planned to have it instead of Honky Tonk Man but his backstage antics put paid to that... he went back to NWA/WCW as part of Doom and it was Simmons who got over from it. In short, Reed blew his chance at the big time.
Von Erich got the title for totally different reasons, due to his brother's death and being due to get the title when he died. That transitional run served a purpose... and Kerry got a run rather than David getting the run that was intended. Butch was NEVER getting near it and nor should he have.
Furthermore, how common were black wrestling fans prior to 1990? With the WWE Network, you can go back and watch as many shows as you want. How many black fans do you see in the audience? Hell, for that matter, what percentage of white fans to black fans do you see in the audience today?