Look how many shitty indie feds are popping up.
A generation of kids have grown up on low-budget entertainment via youtube.
They don't need WWE. They'll watch whatever the fuck they want on youtube/twitch/whatever.
It's cheaper now to build a wrestling company than it ever was. A ring costs less than $5,000. HD cameras far less than that. All you need are a few wrestlers and a bingo hall to rent out. You don't need to worry about a television contract, you got all you need on the internet.