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Austin was not a draw.
People turned off Nitro because of WCW. None of those wrestling fans would have came back or got interested in wrestling because of Austin and his hype. Everyone tuned into RAW for the constant barrage of practically naked women.
Also, Goldberg killed WCW. Nothing else. He became the most boring champ ever and injured and buried everyone to do it, so there was nothing for him to do, and no one left to carry the show, since he's was such a garbage wrestler and personality.