They were built to appeal to a niche of an aging, shrinking audience in the US.
Tony/Cody/Meltzer were trumpeting the new, young audience up front, claiming they were bringing in new fans.
Then…things changed, the audience is now close to 49 years old, and overall viewership is stagnant or down.
If the goal is to have a good run taking advantage of that niche, with some WWE castoffs mixed in with the pseudo bullet club driving decent PPV buys and sucking the money from the fat marks who are left, they are doing fine.