>>16226769It's no one thing it's lots of things that built over time.
AEW's boom happened because of how bad WWE was from 2019 through 2022.
AEW came around at the perfect time. Frustration with WWE was at an all time high. And AEW wasn't actively driving fans away. It had it's flaws even then but AEW's flaws were easy to overlook just because of how bad WWE was doing.
Then AEW managed to bring Punk out of retirement. This was the biggest accomplishment of Tony Khan ever. And something that most WWE fans are thankful for. Because if AEW didn't exist Punk never returns to wrestling. And if Punk never returns to wrestling then he never returns to WWE for this incredible run he is having now.
Between WWE being dog water and AEW signing CM Punk it was as clear that AEW at that time was the superior product. CM Punk was AEW's Outsiders moment. It was during this period that Jericho and Meltzer were saying things like Dynamite could one day surpass RAW. And if you aren't a tribalist you can see why lots of people thought it was possible at this time. But this time wasn't long for the world and everything began crumbling.
WWE had a fire lit under their rear and they reminded the world just why they are the undisputed face of professional wrestling. They focused on their strength which has always been the story telling and the drama.
Then the jealousy of the Elite happened. Punk had AEW in a position to rival WWE. And Tony was smart leaning into CM Punk creatively both on screen and behind the scenes. But the Bucks could not handle being second fiddle in the company they built. Eventually thanks to Jungle Boy AEW lost the guy who was pushing them to the most successful shows that AEW had.
Losing Cody had caused a crack in AEW's foundation. But losing Phil was Jungle Boy and the Bucks taking a sledgehammer to that crack.
And from there Tony has struggled to get a new mega star. He overspent for Ospreay, Okada, and Moné and they were all busts.
