A lot of people who say lack of fresh and interesting storyline's tune in only when the old stars come back so that's not an accurate observation nor is it valid if you just watch a couple of shows. It's like me complaining about Breaking Bad being awful having watch 1 or 2 episodes. The landscape is completely different now, there was a point where it became 100% PG but there's more of a balance at present given the varying age groups which watch WWE.
The biggest reason why they had to go PG completely in 2007 was because of Benoit, he completely transformed the industry in America and they had to in order to survive given the main stream negativity, they banned chair shots to the head, introduced a wellness policy when it came to drug use, wrestlers are now better looked after and there are world class experts in the medical and physiotherapy field on hand if anything goes wrong. So there are pros and cons to wanting a product which is overly ruthless in the ring itself, many of your favourites have also died a lot sooner then they should have. Also, there's more of an emphasis on the in-ring work then in the past right now; so why will the company isolate its fan base. Vince is the master of adjusting where he needs to in order to prolong the company. Also, if old school fans primarily drove the project then we'd see a TV-14 product obviously within the confines of the modern restrictions; however they only show up for WM or Royal Rumble etc so as a business it would be a suicidal to make weekly episodes for those group of fans.
Having said that, to say there's no story or character building is a big myth once again. Am not sure what you watch but Bray Wyatt / Matt Hardy has been a compelling feud, a guy called Braun Strowman has been built up exceptionally well and in him they've finally found a replacement for monsters like Big Show / Kane, whether people like it or not AJ Styles is on hell of a character and in-ring performer who drives a lot of business on Smackdown, The Mizz is another terrific character and is always so invested in the IC title and keeps it relevant, Brock Lesnar is more over then he was in the early 2000's, if things were so bad then am sure he'd not be thriving in the current set up, Jinder Mahal's reign has been a mixed bag but he will go back to the upper mid card right now as a major player, Bobby Roode is fantastic, the women's division is more meaningful then it has ever been in history, Chad Gable/Benjamin, Rusev/English, USOS, The New Day and Cesaro/Sheamus are all phenomenal tag teams and have been involved in some very engaging feuds over the past 12 months and the main event scene is starting to look more interesting as we get ready for mania with Styles/Nak looking to battle over the title and if you know their history from Japan then there's a lot of backstory there to build on the same can be said for Reigns/Lesnar.
Many of you guys were fans of the Attitude Era but you didn't get consistent story telling beyond a couple of segments never mind weeks it's just that instance where people overly bury their heads in nostalgia, it was crash style TV. In the golden era you did get more of a long build but that was when kayfabe was still alive. Am not sure how you can criticise the WWE for lack of story and characters but enjoy Japan/ROH when those promotions are entirely focused on in-ring work, who do you enjoy watching in ROH? I stopped watching since the likes of Joe, Bryan, Punk, Styles, Daniels, Low Ki etc left and speaking of Samoa Joe! if you watched WWE consistently you'd appreciate how well they have utilised him, poor guy got injured recently at the wrong time.
I agree that WWE could certainly improve overall and invest in longer story arc's but to suggest that they don't make an effort is untrue and they invest more in their character work and story's then any other promotions in the world, that's why they are a global powerhouse. The Mizz is not exactly some in-ring general, but he has achieved so much because of his amazing character work; just one of the examples.
Ken Shamrock had zero background in wrestling as well but he did absolutely fine, there's a chick called Sonya Deville and Bazzler (A frend of Ronda) who also has an MMA background and she's doing really well in WWE and is such a bad @ss. Shamrock did say he found it tough to make the transition from MMA to wrestling though, it's not easy. I see no reason why Ronda will struggle, she's a big fan of WWE and has been training in pro-wrestling even when she was the UFC world champion. And the fact that she has all that legitimacy behind her, she doesn't even need to do a lot in the ring and less is more, she will probably work a shot style similar to Lesnar when he returned to the company