I'm still new to the B/R community, and I'm sure this topic has been brought up in the past, but I wanted to give my opinion on the WWE's PG rating as well.
I like most of you loved the Attitude Era, it had a little bit of everything; edgy characters, compelling storylines, and most importantly...PUPPIES!!!
In all seriousness though, the WWE/F was at its peak during this time period; but friends, times change.
The Attitude Era was a result of the WWF adapting to the Monday Night Wars with WCW. The WWF wasn't always sex, drugs, and rock and roll.
In fact the product in the early 1990s, was similar to one we watch today. There were still unique characters and over the top storylines; but not quite like we experienced during the height of the Attitude Era.
In the late 1990s the WWF was facing the real possibility of losing the Monday Night Wars to WCW; so it did what any good business should do, adapt to the changing market. Thus the birth of the Attitude Era.
Fast forward to the present. We all gripe (myself included about) about the PG rating and product that the WWE is offering, but once again this is the WWE adapting to a change in the market.
Right now, the WWE is the alpha dog, the only real competition they face is from TNA who is having its own issues right now (that's another story for another day).
Being top dog allows you to dictate the market, and at this point it come down to simple math for the WWE:
4 > 2
By focusing the product on kids and families the WWE stands to make much more money then it did in the past. Think about it, a family of four buys more tickets, concessions, and merchandise then if you and a buddy went to a show.
Another plus for the WWE is the strength of its brand as well as the product they provide for the customer.
As much as we all like to point out the WWE's faults, we are still drawn to watch it because we are familiar with the brand. The WWE knows that it has a strong clientele that will watch regardless.
We probably won't ever see another Attitude Era again, but at the same time we won't be stuck in the PG Era forever, either.
We've already seen possible hints over the last few weeks that perhaps the PG Era will have a little more edge to it. Change is inevitable, we all know that. If something stays the same it becomes stale and outdated.
The WWE is a business after all, and the goal of any business is to make money. Right now Vince McMahon is riding the cash cow that is John Cena, but who knows where we will be in five years.