I fully understand your point. The only thing I can think of is that Vince has had several of his fans of the "Attitude Era" grow out of the wrestling stage. So now, he is trying to establish a new generation of fans. He probably understands (or he should) that this could lead to short term loss (like a few years). But he is hoping that the kids that see Cena today, will be the equivilant of today's Hogan mark.
Plus, (I don't know if he has thought of this) he has a chance to reshape pro-wrestling's image with a new generation. Right now pro-wrestling is C-list celebrities, a "fake" sport, and "bad" acting. Many people view it as smut programming for "white-trash rednecks." (Funny since Shaquille O'Neal and Cowboys RB Marion "The Barbarian" Barber are both said to be big fans. Anyone calling them white-trash?) "Oh and lets not forget that it is filled with and fueled by drugs; especially steroids."
A new generation comes up, the WWE attempts to keep clean, the slowly evolve into more adult programming again (or not), and try to make it something that fans can love for a life-time like in other countries.
Why not continue with attitude? What does his target audience really have to have an attitude about? "Daing it Mom. I want to stay up to see Cena. He's in the main-event. Let me stay up please." Out of the names you listed, you hope kids grow up to be hard-working, have loyalty and respect (Cena's motto). Similar to "take your vitamins and say your prayers."
He is thinking the same exact way I was thinking.
There was the good conservative era, than there was the push-the-limit attitude era.
What else is there left? Nothing.
Best thing is, is to appeal to the new generation. The fans from the attitude era will grow up and send their kids to live events(well at least the loyal wrestling fans from that era) and the kids that grew up watching Cena & Batista, well since they still watch the mediocre programs that's on today, are likely to be watching wrestling until then. Also, the "casual" viewers on television, like the basketball viewers that only watch the NBA because of Michael Jordan's hype, or people who only watch football until the superbowl, etc etc; fans like that will also watch wrestling when its popularity explodes. You know, the country as a whole is family-friendly so expect the WWE to pull off 10-20 million viewers around that time. PLUS the PPV buyrates come in huge with family shows rather than 19 years olds on justin.tv.
Then after that, with a good little society, some kind of attitude era will probably happen some 10 years after that. Probably A LOT worse than from the late 90s-early 00s, maybe more gore, actual nudity, etc etc. As a country, "the right to censorship" is decreasing and more boundaries are becoming open as the years go by y'know.
The WWE should go with this path. I'll give it until the mid 2010's when wrestling becomes a household sport again.
If the WWE just decides to put bra & panties match and lesbian segments, it's not really a big deal. Back in the 90s, if a woman stripped to her bra and panties on tv; it was forbidden. Nowadays, it's pretty normal. The attitude era had something to do with how society grew. Appeal to the new generation I guess.
Also,
@Total Impact: Haha! I remember those action figures. Everyone brought it school back in 2000-2001. Good ol' days. The Rock and the Hardy Boys were really popular action figures.