SEG's UFC was run into the ground (no thanks to the Fertittas), and then Zuffa purchased them for peanuts, invested money in making it bigger via marketing. Dana was installed into a power position he excelled in. Through consolidation via getting the best fighters and purchasing all competitors, they became the only show in town.
Now, many years later, MMA is synonymous with UFC, and there is a huge fund behind them. It worked. They managed to turn cage-fighting into a sport. Just look at when ESPN actually talks about it... it's almost a goof. No matter, it's difficult to gain headway, even if you're able to get what would be considered top ten fighters, because it isn't UFC. The promotion is bigger than the fighters, no matter what money backers come around.
In hindsight, Pride being run by shifty and shady people, Strikeforce backers wanting to get out, and Bellator getting purchased and then ruined, was the end of any possibility of competition. We don't even see top fighters trying to put together a 1-1 promotion with whatever money, shady or not, is out there. Everyone is beaten down (except Francis).
