I keep going back to wondering less about WWE only turning away the current audience, but doing that while presenting nothing that would draw in a potential new audience.
What is there right now that you could point at on any of their programming and think that it would be of interest to someone who's never watched wrestling before?
I remember the radical shift in tone that dawned the Attitude era (President Gorilla Monsoon declares Raw is War!). That in and of itself was interesting - violence and melodrama usually draws a crowd. And the period directly before that was some of the most bland and sanitized wrestling I can remember. They were still doing USA vs Japan stuff. And all of a sudden the wrestlers who'd been saddled with the lamest gimmicks were allowed to show their personalities, and people loved it. People also loved dumpsters flying off stages and leaping from steel cages.
But it all happened because of Nitro and WCW. Competition has always brought out the best in Vince McMahon. Right now it seems like he's only competing against himself.