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So many people want to rip on AEW and say that the product is "bad" (note: I'm not saying AEW is "perfect" and has no room for improvement, but I do disagree that it's "bad"), but I think the reality is simply that WWE has all the hype and momentum, and if people are going to spend 5+ watching wrestling every week, they're going to spend that time watching the thing they consider most "exciting". And not many wrestling fans have the energy to add an additional 5+ hours of wrestling every week to their schedule for AEW.
Even if every AEW show was completely perfect from top to bottom every single week, I genuinely don't think it would matter to the viewership. 5 hours of TV every week is already kind of a big ask, but when you have two companies with roughly the same amount of TV time, 10+ hours is just too much for most people. Right now, most wrestling fans don't care about having something different from WWE, so there's less interest in looking AEW's way.
The reality is, nothing stays "hot" forever. Eventually, WWE will also cool off. Might take months, might take years, but it's inevitable. I think AEW's best course of action is to continue making improvements where they can, but ultimately just focus on continuing to be a good consistent show so that when WWE eventually cools off, they can pull some momentum back their way.
