This Wrestlemania, with so many people watching, was a huge blown opportunity to lure in casual wrestling fans.

I do think you may be underestimating how much money they're making. Though to you and me the product is vastly inferior to what it was during the late 90s, I'd venture to guess the WWE is making almost twice as much money as they were then. Hell, their international business is probably ten times what it was then and it takes but one walk around your local Target store to see how well they're doing licensing their brand and characters.

WWE is rivaled only by Marvel when it comes to character licensing for products aimed at young males 5-12 years old.