Cena will stay on top until he acknowledges his nagging injuries and retires, because he sells the merchandise, the kids make their parents buy the tickets for them to see him, and ratings take a dip when he isn't there. Doesn't hurt that he's consistently in the most exciting matches of the year either. More power to him, he's the hardest working guy in the industry, does all the charity work, has broken Hogan's record for the Make-A-Wish Foundation, and you never hear of him complaining, refusing to work with anyone or getting a finish changed. In many ways he's the perfect company figurehead. Only problem is adult males booing him live in the arenas. It's a shame, but ultimately it doesn't make much difference to their bottom line.
What gave WCW their boost was that they dared to be different. Eric Bischoff has said in print and in interviews that he thought WCW could be three things compared to the WWF : "better, worse or different." They didn't have the resources to be better, so he decided they would be different :
* Raw was usually taped three weeks out of four ; Nitro would be live every week.
* Raw featured a glut of squash matches with only one "competitive" feature match ; Nitro would feature mainly high-profile matches.
* The WWF existed inside their own bubble, WCW acknowledged the wrestling world outside and brought in guys from Mexico and Japan and acknowledged their achievements elsewhere.
* The WWF featured cartoon gimmicks, WCW started bringing in guys that just used a normal name or their real name and just playing themselves.
* The WWF barely ever mentioned "the competition" or if they did, it was through innuendo. WCW mentioned the WWF by name and took blatant pops at them whenever possible.
Plus of course, the nWo. Being able to literally take two top guys from the other side while they were at their prime just wasn't something that happened back then, and the "takeover" storyline (lifted from New Japan vs UWFI) was perfectly executed. They'll never catch lightening in a bottle like that again.
The real problem is now, there is a lack of genuine innovation for TNA (or anybody) to do anything that is that much different from WWE or from anything that the people haven't already seen. Plus, there just isn't the fanbase out there any more. The same number of fans simply aren't watching wrestling as used to. Since TNA first started monthly PPVs and running Impact, their ratings and buyrates have stayed basically the same and nothing they have tried has made a difference - Kurt Angle, Sting, Hogan, nothing has made a long-lasting difference. The same people watching TNA now are the same people that always have. Apart from that band of diehards, the people that choose to watch wrestling on TV will watch WWE, because nobody has been able to produce a decent alternative. TNA have a decent roster and when I go to see it live, the shows are always full of good matches, but by and large the TV they produce is utter rubbish, the latest garbage with Dixie making herself a central character and recycling the WWE MITB '11 storyline with AJ playing CM Punk is a prime example. Nobody is going to have a chance at getting a foothold if they are happy to be WWE Lite rather than ploughing their own furrow and doing something different. Whatever "different" actually is.
Actually, I've lied to you. All an indie would need to do to make it big would be to get a TV deal and basically copy NXT. That's a brilliant wrestling show.