Whats wrong with WWE is the same problem that it has had since WCW went under, it has no credible competition so everyone became complacent and have settled in a safe comfortable place. People continue to watch WWE more out of habit than anything else now because it is still the biggest most recognizable brand in the world of wrestling. Although many of the recognizable talents have long since moved on. WWE being the only true big show in town gives them all the power now as well, so the actual talents don't have any leverage anymore. Used to be if you were unhappy with your situation in WWE you could leave because there was the option of going to WCW which was for a time equal to and bigger than the WWE or vice versa. Now sure there is TNA or ROH out there right now but neither are at the level of WWE or what WCW was at their peak, so guys in the WWE right now don't view them as another option, more like a last resort if they get booted from WWE. Also back in the day you had guys that would move around from territory to territory honing the craft, even going over to Japan and other country's learning and adding to their movesets and characters, actually developing their talents. Now Vince has a strangle hold on that so it is hard to develop new characters that all don't look, sound, and act the same. If you ever get a chance watch the last Chris Jericho dvd, he talks indepth about this process and it makes so much sense. I am not saying that everything about WWE is bad because I still watch it twice a week every week, and find parts of it to be very entertaining. Is it is good as it was in the 80's with the Hogan, Savage, Steamboat, and Warrior? No it's not. Is it as good as it was in the 90's with Austin, Rock, DX, etc? No it's not. Will it ever be at that level again? I guess it's possible but right now I just don't see it happening because the creative side doesn't have any reason to push it to or beyond those levels right now. WWE is still making money, they are still doing decent ratings, and people still recognize it as the biggest and best name in wrestling. So until something comes along to challenge that we will keeping getting what we have been getting since WCW went out of business.
You hit the nail on the head with this one COMPETITION!
If not for competition wrestling would still be a side show. We would have cartoonish characters and childish storylines week in and week out. Competition is the reason we got arguably the best angle in wrestling history (the n.W.o.), competition is the reason we got the "Attitude" era. 96-01 was arguably the best years in wrestling history due to competition. I know their was some great talents back in the day but during this time we had two great products to choose from on one hand you had The n.W.o., Sting, Goldberg, Luger, DDP and young talent like Mysterio, Melenko, Benoit, Eddie, Jericho, Ultimo Dragon and Kidman who was going out and putting on 5 star matches and on the other hand you had Austin, Rock, McMahon and the Corperation, Taker, Kane, Jericho (eventually), Angle, Foley, DX and both had good storylines because one was trying to out do the other in order to get out attention. WWE does not see TNA as a threat, and TNA is trying way to hard to be the anti- WWE it is coming off as pathetic. WWE doesn't show blood, TNA has blood in almost every match, the Diva's barely show skin, the Knockouts barely wear clothes, WWE is buidling young stars like Cena, Miz, Orton, Del Rio and Sheamus, TNA is shoving has beens and never was wrestlers down our throat Flair, Hogan, Sting, Matt Hardy, RVD, Mr. Anderson. TNA has a show on a network everybody with cable gets so there is no excuse that they can't get viewership it's not like they are on My Network TV in a select number of markets, they are on Spike TV, hell UFC managed to gain millions of followers on that very same network.
With that said TNA needs a great angle that would get the wrestling world talking, and unfortunately I don't see their booking crew being capable of doing that. Remember how awful the WCW product was before the n.W.o. and how within weeks Nitro was winning the rating war? That goes to show you it is possible. All TNA has to do is get close to WWE in numbers, then Vince and his people will start giving us the good stuff.
The only other problem is poor booking. This Raw GM thing has been going on for over a year now, and I am sure not even the writters know who, if anybody they want to reveal as the GM, and at this point anybody short of Paul Heyman, Ric Flair or somebody coming back from the dead would be a huge disappointment. The original Nexus angle was booked pathetically! Nexus should have never lost at Summer Slam last year if you wanted them to look like a dominant faction or if they did lost it should have been by DQ after they destroyed the WWE guys, then have Cena work through them and showdown with Barrett at Survivor Series. In the end Barrett looked like a punk and the entire Nexus looked like second rate jobbers. Orton moving to Smack Down could have set up new exciting feuds with young talent like Cody Rhodes, Wade Barrett and Ted DiBiase who havn't really had that much time if any in the main event picture. Instead, we get Orton in a program with Sheamus, Henry and Christian all who have failed in the past to sale as main eventers. Orton and Sheamus was an undercard match even when the title was on the line. There are way too many heels and only two big name faces in the entire company, what if Orton or Cena get injured or need time off? There is going to be no build to a guy stepping into their spot and it will look messy throwing somebody in there especially on Smack Down where the number two face is probably Big Zeke, Sin Cara or Daniel Bryan who have been nowhere near a main event in WWE ever. Not only that but would you pay to see Big Zeke vs. Sheamus or Sin Cara vs. Mark Henry for the World title? Maybe if it was booked right sure, but not wishing ill on anybody, say Orton gets hurt at Capitol Punishment, which he has a history of injuries, who main events the next PPV for the title? Christian/Sheamus/Mark Henry vs. ????? or say Cena is the one to get hurt who main events from Raw? The Miz/R.Truth/Del Rio vs. ???? Alex Riley?, Kofi Kingston? they would almost have to force Taker or Triple H back on TV in order to sale anuthing.