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There is no cycle. The first popular phase was Hulk Hogan, and he brought the rest into the mainstream.
Second "upturn" was pure competition. If WCW hadnt been challenging, the shackles might have never been taken off certain stars.
Noone stands out, everybody wins and loses ad nauseum, and until someone rises above it all, or strong competition comes out of nowhere, the company will rest on its laurels and continue with no stars and matches that mean very little.
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