With the inherited WCW roster as it was in 2001, it was never going to be successful. As mentioned the best way to do it was to just have WCW be on SmackDown. Eventually once they get Flair, nWo, Mysterio, Steiner, Goldberg, etc. into the fold, then you launch the angle at some point in 2003 and run it right to a landmark event in WrestleMania 20. Once it ends, WWE goes to Raw and SmackDown as they have it now.
Then again I'm not convinced Vince thinks there was much of a missed opportunity. He wanted to make WCW look terrible and remind everybody that WWF crushed them. To this day he likes reminding people. There's a reason that Shane McMahon buying WCW was listed as like the #2 moment in Nitro history on a recent WWE.com article.
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