What happened to the once powerful and almighty ECW? Vince McMahon happened. Ever since Vince McMahon revived the ECW brand, not much was been worthy of note. But, as of late ECW is on a power struggle with Raw and Smackdown.
ECW has been building superstars and as of late the 1 hour show has been producing more action and better matches than the 2 hour show TNA. Some matches have even been better than those you see on RAW and Smackdown. They can become a supreme brand if they continue.
Vince McMahon threw the veteran Christian on ECW because he was angry at Christian for his jump to TNA but, the acqusition helped ECW. Christian helped build Jack Swagger. Those great matches he had with Jack Swagger looked like they made Swagger better and made the crowd notice him. Christian is one of the only veterans along with Tommy Dreamer and William Regal on ECW. He has made the ECW championship one of the only championships that seem to change hands every five minutes (quicker than TNA changes that X Division championship!). Vince is probably kicking himself right now.
Also ECW seems to have new superstars every week. That's a good thing! They have built Zack Ryder and Yoshi Tatsu, now they need to give the title to either Ryder or Tatsu. That's where Christian's long reign as ECW champion plays a huge role in Ryder's and Tatsu's careers. If either beat Christian for the championship how good would everyone think they are. Very. My opinion is that Ryder has more talent and is a strong heel so, he should get the push. But, if Tatsu gets the push that would be okay.
Another pair of ECW wrestlers that should get pushed are Eziekiel Jackson and Vladimir Kozlov. But, WWE keeps on making them lose to the very seasoned veterans Goldust and Tommy Dreamer. What person is going to become a star losing to that pair. Let them loose WWE, they have decent talent (not championship caliber just yet).
With all this said I wouldn't be surprised if in a year or so ECW is better than either Smackdown and Raw or maybe both.