Over the last few years, we've seen a huge decline in quality of WWE programming, a great decline. Story lines are terrible, there's nothing here for the guy who actually watches the WWE and wants to see what made Raw and Smackdown great shows back then.
While most people had to make excuses for why they watched, we all know why: to see some guys beat each other to a bloody pulp, watch some sexy women "fight" (men only on this one), and give us reasons to yell.
The WWE has gone to the children; that's the problem in a nutshell. The main reason this happened is because once kids who are about 8-10 saw the coolest guy on the WWE, they needed to buy his shirt, his action figure, etc. The guys up at the WWE saw this and figured that more children are watching.
But parents weren't going to let their "Little Darlings" watch men hurt one another on such a violent level, and thus things got softer. Then even younger children started watching and we dropped to TV-PG level, no Playboy, no swearing, no blood...the death of the WWE's trinity.
While TV-PG may have made women's wrestling better, it hasn't done much else. Ratings aren't as good as they were, and eventually they'll just drop to ground zero.
The WWE heads will eventually see this because of little Billy's parents won't watch WWE, he can't either. And things will go back to at least PG-13, and in reality it's all we can ask for.