1. TNA is not an open-ended checkbook the way WCW was. The reason WCW was such an overnight succcess (of sorts) was because that checkbook was opened and used as a means to lure numerous WWF superstars over, starting with Hulk Hogan. It was the familiarity of those stars that gained them such an "immediate" impact.
2. We live in the era of the "90-Day No Compete Clause", a clause set up specifically to counter the tactic WCW used in the first place to lure ex-talents away from the company. Talents can still leave, but because most (if not all) are required to fulfill the clause that was likely included in their contract that prevents them from showing face on a nationally broadcast/televised wrestling promotion for 90 days following their release. In the business, 90 days is more than enough to kill most of if not all of the momentum and buzz around whether or not X wrestler will now join Y company.
I have to disagree with your first point. People want to look at TNA as this little company trying to compete with the monster that is the WWE. Everyone likes to point out that WCW had Ted Turner. TNA has Bob Carter. TNA is a subsidy of Panda Energy just like WCW was a subsidy of Turners company.
Bottom line: Bob Carter is richer than Vince McMahon. McMahons wealth is estimated at 400-600 million. Bob Carter, the ultimate owner of TNA, is a BILLIONAIRE. In addition to Carters vast fortune, Spike TV also helps pay the contracts of top stars like Hogan, Angle, and Sting.
Your second point is dead on. The 90 day clauses and internet have hurt wrestling more than anything else. The most exciting thing about the Monday Night Wars was knowing that anything can happen. A top star would be on Nitro one week and Raw the next, and vice versa. It really made wrestling must see.
TNA seems like they have all the pieces to a puzzle and they cant figure out how to put them together. However, they are getting a little better. Taking shows on the road is a great start, and will get a lot better if they ever go live.
I want to call TNA a success, but events like Bound for Glory make it look like a total failure. BFG is their Wrestlemania. Mania gets 1 million PPV buys, BFG got an estimated 20-30 thousand. Mania sells 60 thousand tickets, BFG sold about 3000. This simply doesn't make sense when you look at their ratings. TNA gets about a quarter of RAWs ratings. Usually around a 1.0 compared to Raws 4.0 on a good night. This comes out to around 1.5 million viewers compared to RAWS 4-5 million. Seeing as how they have a quarter of the fans, BFG should of had at LEAST 200 thousand buys. Theres no excuse for them not being able to sell 8-10 thousand tickets for their biggest PPV of the year.
I think it all comes down to fans. TNA fans typically believe themselves to be much more rabid than WWE fans. In a sense they probably are. I'd say a much larger percentage of TNA fans are on the dirt sheets and chat rooms talking about backstage issues and ratings than WWE fans.
However, these fans are horrible for a wrestling company. How many TNA fans on these forums actually pay for PPV's instead of streaming them? How many buy toys and dvds? I'm guessing not a whole hell of a lot. TNA likes to cater to the older internet fans. These people CAN NOT help you build your company into a juggernaut like the WWE. I'm a WWE fan and guilty of it too. I don't order many PPVs and never buy toys or other merch. Im usually only good for DVDs. However, the WWE has millions of kids that buy everything with John Cena's face on it. They make more money off shirts, toys, and video games than they ever could on ticket sales. Hell, their shows are a commercial for their products. Thats how you become a billion dollar company.
In the basic sense of the word, TNA is probably successful. However, they are nothing compared to what they should be.