I honestly don't think any ex wrestler could pick up the ratings for even more than 2 episodes of Raw.
The only time WWE will get rating increase is having better storylines and have that consistant through the card. Also maybe not tying down wrestlers with a shoddy moveset. Well so i think, i don't even think that would help anymore with UFC and other MMA programming Wrestling has lost some of it's numbers forever i think.
I'd like to think i am wrong, but i don't think i am.
I agree 110% with this right here. The issue isn't the person/character, it's the writing and management. Right now, the WWE is so desperate to be "hip" and "with it" they are neglecting the most basic parts of success. Make it interesting, don't go chasing fads.
The 1980's were the golden age for a reason. And take Hogan out of the discussion, you're left with a handful of guys that weren't long-term faces of the company, but just about everyone knew who they were if you happened to mention them to non-fans of the product.
People KNEW: Andre the Giant, King Kong Bundy, Big John Studd, Junkyard Dog, George the Animal Steele, Macho Man, Rowdy Roddy Piper, Ricky the Dragon Steamboat. Those were just about household names. They all had storylines and half-decent feuds that went on for more than 3 weeks.
This all comes down to utilizing talent and drafting (and sticking to) storylines.