I woulden't say its WWE being hypocritical, rarther that they would leave this unchecked or at least till now.
The main reason I beleive this is because I think they don't have a lot of input into the games- and have before tried to gain more control but failed due to contracts, and something to do with it being classed as a toy (don't quote me on that but its something similar).
You have to remember it takes quite a bit of effort for the casual player, or through demonstration, to actually bring an opponent to bleed; requiring often the right settings and match type.
Blood has been removed from WWE games of the past; WWF No Mercy had an error in which career data was deleted, they fixed it and re-released a new batch however this time blood was removed.
On the issue, Personally I would much prefer they follow WWE's new stance on blood because it would contribute to a more authentic simulation of the sport today and overall product.
Imagine how great that would be if guys ran up to your bleeding character with towels and as either a heel or face you could turn them away, get angry, or accept the clean up and collect your normal paycheck.
I must admit though when I was a lad i would load up WCW/NWO world tour, play as Hollywood Hulk Hogan and clothsline people until the crowd would shriek and my opponent was bloodied

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