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There is no way in hell ECW would have ever competed with the WWF or WCW. The talent pool just wasn't there after the mid 90s for a number of reasons including Paul Heyman being a shitty and shady businessman. The market is just too small, they're like a small market sports team, they'd get a guy under contract, develop them into a star then are no longer able to afford them.
The major appeal in ECW was that stuff happened there that wouldn't happen in the big 2 and in order to reach such a large audience they'd have to be on cable and severely tone down their act, hence with a shit talent that is constantly shrinking accompanied by inferior production values, little to no big name talents and removing the one element that people look for in ECW, a more racy product, ECW just never really had the chance to compete.
In the end, it all really just boiled down to money. Unless you're backed by a rich business tycoon like a Ted Turner capable of landing big names, producing big names and then keeping the big names, there is no way in hell you could ever compete with a huge company like WWE.
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