I think there's a distinction between what people on the internet identify as a smart fan, and everyone else who are, "smartened up." The audience was at one time made up of people who either considered wrestling a genuine sport, or only understood it to be "fake" in some vague way. Since then, McMahon introduced the "sports entertainment" umbrella, kayfabe eroded completely, the pro wrestling exposed show aired, and Tough Enough literally showed rookies learning to take bumps. Everyone in the crowd might not even know it's called a bump, but they know what it is and the basic mechanics of it. I think the change in fan perspective has really hurt WWE crowd reactions, since everyone's there to take in a show rather than watch a competition. There's a dearth of rabid grannies trying to get over the guard rail at HHH. The only real heat they generate anymore is from smart fan moral outrage, but they're getting really good at harnessing it and feeding it into the show.