I agree. The funny thing about WWE these days, as opposed to say 18 years ago is, the in-ring product is better than ever. The guys are all better workers than their counterparts from the last boom period, almost without exception.
However, the thing is, while the in ring work is usually very good, the booking makes no sense and actively harms the product half the time. Compare that to the late 90s. Most of the guys were not good in-ring workers, but the booking was so good that something like that didn't matter as much. As I remember it, most matches were just brawls at the time, but it didn't matter as much because the booking was good. Now, we get great matches, but the booking sucks.
It's a funny business.
So in other words WWE is the new WCW.