Back in 1979, when I was in the 9th grade, my Dad dropped a friend and myself off at the Gulfport National Guard Armory to see King Cobra and one of the Mongolians in a Texas Chain match (Don't remember the promotion). There was blood all over the place, and we thought the rage and violence was real. Hell, we even had blood on us. My Dad picked us up and we were talking about how awesome it was, and he said that they were probably out buying each other a steak dinner. Of course I didn't believe him.
When I look back, I realize that was the norm. Just look at the Vashon brothers. Their foreheads looked like they hosted tic-tak-toe tournaments with knives.
What changed everything was when WWF switched to WWE, and VM declared that it wasn't real, and the wrestlers were trained professionals putting on a performance, then they went PG and banned the bloodletting. Now it was safe to bring kids to see wrestling. Almost like the circus coming to town. ECW tried to go old school and VM bought them. WCW tried to go old school, and VM bought them as well, effectively ending it altogether until AEW.
There's a fan base for the old school, and it shows. Khan has the money to burn down some old home, where the old promtions would never do that due to finance. Even E has been know to destroy cars and stuff, and still do. But I think the vast majority of fans are more intune with the E way of doing things. E fans know the storylines and stuff isn't real, and are there to be entertained. I think AEW and their fans are taking it too seriously. I think AEW started off as an alternative and competition to E, but once the old school started in it turned off many of the casual fans.
JMO