>>6968361Because he already lost it years ago. He resigned from his EVP position way back in the fall of 2009 (effective Jan. 1, 2010) because it was already clear way back then that Stephanie and Paul were the chosen heirs.
Since his return to the company in 2019, he'd never been more than an occasional producer. It was a part-time job, and his creative input was mostly limited to booking specific matches, not entire angles. Even before the Royal Rumble debacle, he was never a serious contender to take over the company from Vince.
Ever since the Peacock deal happened, the question has been whether WWE would be sold to NBCU before Stephanie had a chance to inherit it. Shane wasn't even an afterthought. That ship sailed years ago, and the track record of Shane's own business ventures has provided no reason to bring it back.