Vince McMahon never gave JJ that big main event push because he didn't see him as "that guy" for his company. Vince McMahon was right.
Unfortunately, Vince Russo and Jeff were buddies, so when Russo showed up in WCW, it wasn't long before Jarrett was one of the main event players.
I agree with pretty much all that has been said here. He's not a bad wrestler at all; he's very solid in the ring. But there's nothing significant enough about his style or his entertainment value that makes him a main eventer. He's bland as all hell in the ring, even down to his lame ass finisher. And now, with his own company and Russo once again behind the pen, Jarrett can still make sure he's portrayed as a world championship athlete, when simply put, he's not at all.
The only time I liked Jarrett was for the period from Mayhem 2000 to Starrcade 2000, up to and including his awesome US Title Ladder Match against Benoit. I liked the matches he had with DDP over the World Title in 2000, but I mostly attribute the quality of those matches to Page more than Jarrett. He made a good block in the building of the new nWo, but when it died and he became the "leader," I knew it wasn't going to work.
So that's about it with Jarrett. hopefully he will retire some day soon so that TNA can maybe continue to grow.
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