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There was a paradigm shift in the conventional approach to the babyface/heel dynamic during the Monday Night Wars/Attitude Era. Most of the internet smarks, somewhat surprisingly, still cling to the old norms because their understanding is largely informed by Cornette's podcast and the old-timers who learned to work during the territory days. If you're Fritz Von Erich in the late '70s and your dick gets hard over the thought of selling out the Sportatorium for the 12th week in a row, you'll need the majority of your audience to hate your top heel and love your top face. This simple approach worked at the national mainstream level for a time (e.g., Hogan vs another giant monster). While the babyface/heel dynamic remains indispensable to orient both storylines and matches, it is no longer essential to the promotion of a successful wrestling event (for reasons that I'd need to write a book to explain). The issue has more to do with the size and diverse range of sensibilities of massive mainstream audiences than it does with a performer's character work.
A great example of a modern babyface and modern heel being booked effectively to draw insane money is what happened last year between Cody and the Rock (Quick aside: I admit I'm cheating here, but I'd have to really get into the weeds if I can't lean on an example involving either Rock or Austin). There were countless "We Want Cody!" fans who forced the WWE's hand to change plans so they could see him "finish the story," and there were also countless "Fuck Your Story!" fans who considered Rock the main attraction and threw their support behind him. The wrestling promotion knew they handled things correctly when the result was a financial boon, and yet still message boards were littered with posts about how the heel didn't quite hit his marks because the audible boos he received didn't sound like they came from a majority of those who filled the sold out NFL stadium.
>I crave 'mucho texto'