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Here's the problem with that though...the ratings were already shit. IMHO there are only two types of fans left watching WWE. Performance fans...and leftover suspension of disbelief fans. Performance fans are the ones who don't need to buy into what they're watching. They're the ones who want to see stuff that looks neat and don't car if the 4th wall is broken because it's just a show. They're also the ones most likely to be part of those social media numbers WWE like to post after ad breaks on their shows, and I think that's why so many of the people in WWE are the type of person who appeals to them. Their also a niche market...they like things that don't usually resonate with the larger part of society. The second type...the suspension of disbelief type...are a dying breed. Their the fans that don't want the 4th wall broken during the show...they don't care as much about things looking neat as things making sense. The want to believe the guy on their screen is the baddest motherfucker walking even if they know he's not. They're also a niche market just by the fact they like rasslin...but they stuff they like has a better chance of getting over with the larger audience...the mainstream if you will. Unfortunately...and this is just my opinion...they're not the type to be as active on social media about the product...and thus their opinions don't matter so much. Even when WWE tries to go back towards what this type of fan wants...they screw ti up because they're too concerned with what the other group wants. So you get a product that no one is happy with and the ratings stink, house show sellouts are a distant memory, and you a second promotion in a "war" that gets less hype than the average eurotrash dork with a videogame channel. It's a sad state of affairs all around...and again...imho...taking social media interactions as the standard for fan opinions has hurt rasslin to a point it will never recover from.
I suppose you're right, though I would argue the decline to below 3.0 started after Brock won the Undisputed championship in 2014 after he beat the streak, it started out high with the post PPV RAW getting around 4.0 when Brock first won but then he would spend around a month not defending the title or even appear on TV and when people complained WWE (to be more exact Vince in an interview) responded to the criticism by saying the title was a prop for Brock like how Damien the Snake was a prop for Jake Roberts. I think from there is when the damage was done and became permanent and the highest they could get was around a 2.90 when they pushed Reigns as the face of the brand.
It seems that the 2013 to early 2014 period may have been the closest thing to a last hurrah for wrestling getting consistent ratings of above 2.90.
It's even more frustrating when you try to think how guys like AJ Styles and Samoa Joe would have fared before the decline, Styles had momentum when he won his first WWE world title after matches he had with Cena but then that DAMN sub-feud he had with James Ellsworth basically sucked all the excitement out of his first reign.