There's definitely a finite, limited number of fans willing to be invested in a wrestling product now - it's probably the least 'popular' it's ever been in America, even though the ones who are invested are willing to spend a lot of money, and the internet existing naturally leads to more space for content, which means wrestling is often talked about by the media.
You need a Hogan/Austin/Rock level star to turn things around. Wrestling has always been at its most popular when there are massive individual stars; it's one reason 50:50 booking is so annoying.