You answered your own question. Why do I watch Raw ? Charismatic, entertaining characters. You watch for the promos, you are entertained by schtick that a wrestler does. Why do you watch a match ? Because of the storyline, and you need charismatic, entertaining characters to make the storyline compelling enough to make you want to see the match. Wrestling is a soap opera, the actual matches are small part of the act, albeit the final act, kind of like the season finale or big storyline arc of soap or continuing drama. If the ongoing storyline doesnt interest you then you wont care about the finale. Who Shot JR wasnt the biggest TV story simply because JR got shot, it was because of everything storyline wise that went into developing the mystery of who the shooter was and how compelling it was for the audience.
Wrestlers who lack charisma, who dont have that excitement factor, they dont get people to watch, if you are not entertained by the performer then why watch the match ?
Certainly, there are moments when in ring performance meets charismatic entertainers and you get epics like Austin-Rock, Taker-HHH, Taker-HBK, Flair-Rhodes, Savage-DiBiase, great characters with limited skills see their matches elevated in the eyes of fans like Hogan's tilts vs Piper, Savage, & Flair.
Take two guys who have no build, no storyline, and you have no fan interest, even if one of them is a major name who is popular and established with the audience. A great example of this was the 1998 match on Nitro between Brett Hart (in his prime, a regular performer on the show, a 5 time World Champion, headlined numerous PPV) & the wrestler originally known as Van Hammer, a failed gimmick that left it's portrayer mired in the mid card. There was no build, no promos, no story between them to make anyone care about the bout's outcome. The two had an excellent match, taking up a half hour of air time, fast paced, multiple near falls, it was one of Hart's best bouts all year. It was the lowest rated segments of the show with a clear pattern of audience shift to Raw. It was a far superior match than Goldberg's Nitro tilts vs DDP & Hogan but didnt come close to generating the audience. It also was a an actual match, unlike Flair's confrontations with Eric Bischoff when he returned which included no wrestling. Guess what drew better ratings ? In fact, it wasnt close.
If you cant entertain me, create an interest in me to watch you perform, then I wont follow your story and I wont be inclined to watch your big match. Its that simple.