The worse thing that happened to pro wrestling was WCW going under. WWE since has had no competition so there is no need to change things up. WCW and Monday Night Nitro were a big reason why there was an "attitude era" in WWE.
It's too bad WCW was never anything without the NWO, and Turner allowed the NWO idea to be used long after it went stale. And when I say they used it long after it went stale, I mean they used the NWO model over and over and over again - with The Brood (perhaps that was during the NWO era), LWO, The New Blood, etc. The faction idea had long been played out and they kept playing it anyway. Not to mention the WCW destroyed its balance sheets by signing all of the aging WWF "names" and making them the face of their company.
Bottom line, the way I see it, Hogan's "Touch of Death" on Nash wasn't just the death of the Wolfpac, it also signaled the death of WCW altogether.
I think the whole thing was staged, but still fun to get wrapped into it all.
It was definitely staged - they would have never let him go on as long as he did if he truly was going rogue.
Raw will never get better until Vince realizes that Cena is a down-card guy with an awful character that will never be able to carry the company.
Meanwhile, a legend like the Undertaker toils in relative obscurity. It makes not one iota of sense.
nj829 has it right - Undertaker is incapable of being the face of the company because his body simply cannot handle it anymore. Saying Undertaker should be the face of the WWE, quite frankly, would be no different than saying Hulk Hogan should be the face of the WWE. All these wrestlers that we grew up with have had their time in the sun and it's time for new blood to be the face of the company. Perhaps that is John Cena, perhaps it's not. Whether he is or isn't, he IS that guy simply because the WWE doesn't have anyone else, and the solution isn't going to be making a broken-down former superstar the face of the company.
Further, look at what I said above about WCW and signing aging WWF stars to be the face of their company - it was one of the major reasons for the WCW's meteoric rise in popularity in the late '90s, even outpacing WWF, but in the early '00s it was a significant contributor to why WCW failed - it bankrupted the company.