Wrestling was also the perfect fit for the lad culture of the mid to late 90s. The DX stuff, Austin, Rock, bra and panties matches, etc. They captured the mood of the time really well and the current climate isn't a good fit for wrestling. AEW tried it with the inclusivity stuff, signing and showcasing wrestlers like Sonny Kiss and Nyla Rose, but it's just not what wrestling fans really want because they're all still pining for the attitude era.
They key to it really is storylines right now. AEW had a lot of momentum with the Hangman story, WWE did great business with the Sami/Bloodline story, that's what they should be focusing on these days. If you book great stories, people will stick around to see the ending.