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It was the first definite instance of WWE forcing a square peg in a round hole using nostalgia-bait.
The ECW documentary they produced sold well so they did ONS to milk the brand some more. When that went well they just went ahead and revived ECW as a third brand. Problem was ECW couldn't have existed on national TV, within the confines of WWE's bass-ackwards corporate structure. Everything that made ECW, ECW was toned down and the show essentially became 205 Live/Velocity/Shotgun Saturday Night.