>>9993354probably because they opt to go for 'once in a lifetime stars' with their gimmicks. bad example, but a stone cold jr would tank both stone cold and the younger talent with the audience. also when you only have one rock, one stone cold one roman, etc people pay to come and see.
short answer is also, it's easier to dress like the other dude and learn his move set (in lucha's case; think stuntmen, gymnasts, etc) than it is to be as good and on the same page as someone who has to play a more theatrical style character