It's simple: WWE need better characters/gimmicks and stories
I would like to expand this OP, but I am Spanish and I am afraid I cannot explain myself without serious grammatical errors.
I started watching WWE in 2007. I watched some 2006 programs too. At first I thought prowrestling was silly because it was blatantly fake and "over the top".
But then I was trapped by the unique and charismatic characters and the original stories I was watching. The Irish tought guy Finlay, the snob star MVP, the determined Matt Hardy, the tormented and sadistic Kane, the masked flying luchador Rey Mysterio, the brutally muscular Batista, the mysterious, mystical and dark Undertaker... even the Asian redneck Jimmy Wang Yang and the alienated King Booker were extremely entertaining. On Raw we had the old school mature-lover Shawn Michaels, the amalgam of biker and viking warrior Triple H or the flamboyant Jeff Hardy. And there were storylines everywhere. Back then the USA, Intercontinental and Tag Team Championships meant something and the midcard had good stories and feuds-I can remember the excellent Matt Hardy VS MVP feud, for example.
Ironically I remember CM Punk looked strange to me because he was simply a guy in kickpads who used a great variety of kicks and had not evident character. But I liked the guy anyway because back then the enormous variety made a guy like that unique.
And now? We have talented wrestlers, sure. But right now even a simple gimmick like Finlay's(mostly silent Irish bastard in green, black and white singlet who doesn't talk about how great he is, he simply comes and brutalizes his opponent despite being algo a trickster) is impossible to see. We only have guys with the same 2-3 looks and the same pair of characters: handsome guys in trunks, wristbands and kneepads/kickpads with six-pacs who are cocky and/or cowards if they are heel, or smiling guys who always win if they are face. And the stories? Now the midcard is the kingdom of boredom and underestimation. There are no real feuds or storylines beetween the midcarders, and even the majority of the feuds of the main eventers seem uninspired. See Alberto del Río-Sheamus or Big Show-Cena.
WWE have a bunch of absolutely crappy writers who don't advantage the uniqueness of the talent. In 2007 CM Punk was absolutely unique and now we have a lot of guys in kickpads and trunks whose moveset consist largely in kicks. Sheamus was great as the Celtic Warrior and Cody Rhodes was amazing as Disfigured but now they are the face/heel boring stereotypes.
Consequence: We have very good talent, but the product overall is pure crap. I am very sad because I loved WWE during all this years and now I am not capable of watching a whole Raw or Smackdown. The lack of stories and good characters have ruined the product for me, and while I can see that Miz has some charisma, Barrett has good mic skills or Ziggler is a very good worker, that cannot save the fact that the product is 80% uninspired and generic. We need GIMMICKS ( unique or quirky special feature that makes something "stand out" from its contemporaries ). I am used to every wrestler being unique and now Seth Rollins or Bo Dallas being the future look like garbage to me. :/