1. Because the mods barely do jackshit. Even if you go into iirc they'll just tell you to hide schizo/console war spam and off-topic bullshit instead of doing their job and making it so the board isn't a hellhole. If they don't want people to think they're total fucking faggots then they should actually do something useful for once.
2. AEW. Not the promotion itself, I could give less of a shit about ratings and consolewars. But the fanbase is objectively the worst the industry has ever seen. Say what you want about Efags, but the sheer amount of retardation and social ineptness of these troglodytes is unrivaled. It's also made worse by the fact that they can't even come up with their own shitpost material and have to steal it from WWE posters, and even then it's still passe in it's original form. /asp/'s tank in quality reflected this when AEW first hit the scene and we haven't gone back to good bants and discussion without it devolving into to retards samefagging and flooding the catalogue screeching "mY tEaM iS bEtTeR tHaN yoUrS!!!!!!111". Consolewarring is for faggots. Period.
3. Overall decline of wrestling discussion. Now that the crowds are being flooded by pop culture consumers and the marks are in the ring, talking about wrestling online is like admitting yourself into a madhouse filed with diaper-filled manbabies who scream incoherent bullshit 24/7. Every time I go on this board I feel like there's a massive tumor growing in my brain, and what's worse is that it's the exact same thing happening on every other site and social media platform. The only difference with /pw/ is that you can say nigger and tranny now. I don't think it was even this bad at the height of the Monday Night Wars, but I guess since wrestling has become more and more niche it's driven away a lot of the people who would just bully these losers into submission and hopefully suicide. These anti-bullying campaigns have been a massive mistake and have doomed our society for years to come.