AEW has experienced a rollercoaster ride in just a few short years, striving to carve out its identity in the wrestling world. Founded in 2019 by Tony Khan and a group of wrestling visionaries, AEW brought fresh promise and excitement. However, as the company grew, the departures of major stars like Cody Rhodes, Andrade, CM Punk, and now Malakai Black returning to WWE underscored significant growing pains. This exodus highlighted not just a quest for creative freedom but also the challenges of managing a rapidly expanding brand.
Cody Rhodes’ departure in early 2022 was a significant turning point for AEW. As one of the founding figures of the company and an EVP, Cody was integral to AEW’s early success, bringing star power, credibility, and a deep passion for the industry. His exit to return to WWE symbolized a shift in AEW’s internal dynamics, raising questions about creative frustrations, backstage politics, and the long-term vision of the company. While AEW has continued to thrive in certain areas, losing someone as invested in its foundation as Cody was a major blow, both from a leadership and fan perception standpoint. His success upon returning to WWE, where he has been positioned as a top-tier talent, also serves as a reminder of AEW’s struggle to retain some of its most influential figures.
CM Punk’s exit in 2023 was another devastating loss but for different reasons. Punk’s arrival in AEW in 2021 was hailed as one of the biggest moments in modern wrestling, giving AEW mainstream attention and an undeniable star who could challenge WWE’s dominance. However, his tenure was marred by backstage drama, including well-documented altercations with The Elite and other AEW talent. While Punk delivered incredible matches and helped elevate the AEW World Championship, his exit following the All In 2023 incident left a cloud over the company. His eventual return to WWE reinforced the narrative that AEW struggled to maintain harmony within its locker room and manage high-profile stars effectively. For many fans, Punk’s departure was not just about losing a marquee name but about AEW’s ability to handle internal conflicts without damaging its reputation.
MJF re-signed with AEW at the beginning of 2024, serving as a beacon of stability and proving that AEW can retain top talent even amid turmoil. But the departures and retirements of icons like Sting and Bryan Danielson, and the leadership of Jon Moxley and the Death Riders, reflect a company in transition. While the influence of Kenny Omega and The Young Bucks as EVPs is significant, it’s clear that AEW’s structural foundation is still being laid.
Moreover, reports of inconsistent medical care compared to WWE’s comprehensive system highlight areas needing improvement. These growing pains underscore AEW’s journey from a bold startup to a more mature contender in the wrestling industry. Partnering with wrestling schools and leveraging Ring of Honor, which AEW owns, as a developmental platform could be key steps forward.
Despite these hurdles, AEW’s recent improvements and adaptation to smaller venues suggest a willingness to learn and evolve. The move to smaller venues has also had an unexpected yet positive effect: the enthusiasm of the crowds has increased significantly. By hosting shows in more intimate settings, AEW has recaptured the electric atmosphere that defined its early years. Fans are more engaged, creating an environment that feels raw and energetic, reminiscent of the independent wrestling scene that birthed AEW in the first place. This shift has allowed the wrestlers to better feed off the audience’s reactions, enhancing the overall experience and delivering a product that feels more organic compared to the sometimes sterile atmosphere of larger arenas.
The EVPs and AEW’s Identity Crisis
One of AEW’s most unique traits from the beginning has been its leadership structure. Having wrestlers serve as Executive Vice Presidents seemed like a fresh approach, bringing a wrestler’s perspective to decision-making. However, as the company has matured, the roles of Kenny Omega, The Young Bucks, and others have led to questions about whether AEW has a truly defined corporate structure.
At times, the booking feels inconsistent, as if multiple creative minds are pulling in different directions. While WWE has a clear system with Triple H and his creative team dictating the direction, AEW has often operated more chaotically. A more centralized decision-making structure could prevent some of the issues that have plagued them, from talent frustrations to abrupt shifts in storytelling.
The Sting and Bryan Danielson Factor
Despite its turbulence, AEW has solidified its place in wrestling history with some monumental moments, including the retirements of legends like Sting and Bryan Danielson under its banner. These moments showcased AEW as more than just an upstart; they demonstrated the company’s ability to celebrate wrestling legacies on its own terms. The farewell matches for both men were booked exceptionally well, giving them the sendoffs they deserved while highlighting AEW’s strengths when it comes to long-term storytelling.
Yet, their retirements also signal a passing of the torch. With two of wrestling’s most respected figures stepping away, AEW must build new stars that can truly carry the company forward. MJF, Hangman Page, Darby Allin, and Swerve Strickland represent that next generation, but they need stronger storylines, consistent booking, and meaningful feuds that elevate them beyond mid-card limbo.
The Role of Veterans and Development
AEW has a mix of young talent and veterans, but how they use those veterans is still a work in progress. The presence of industry minds like Jeff Jarrett and the recent signing of Bobby Lashley suggests that AEW is beginning to lean on experienced figures to guide its locker room and overall strategy. However, unlike WWE, which has the Performance Center and NXT to cultivate the next generation, AEW’s developmental system remains underwhelming.
AEW owns Ring of Honor, which could be the solution. Instead of being treated as a secondary brand with inconsistent programming, ROH could be the dedicated developmental territory where younger talent can hone their skills and prepare for the main AEW roster. Establishing a clear developmental pipeline would allow AEW to develop future stars more effectively rather than relying on free-agent signings or hoping independent wrestlers will seamlessly transition into their system.
The Medical Care Debate
One of AEW’s biggest criticisms compared to WWE is its medical care and handling of injuries. WWE, for all its flaws, has established a structured, well-regulated system for evaluating talent injuries, enforcing concussion protocols, and ensuring wrestlers aren’t rushed back before they’re ready. AEW, on the other hand, has received criticism for how it has handled injuries, with wrestlers returning too soon or not receiving the same level of oversight.
If AEW wants to sustain long-term success, this is a necessary area of investment. As much as fans love the high-risk style of AEW’s product, the company must protect its talent. Otherwise, it risks a growing reputation as an unsafe workplace, which could impact talent retention and recruitment.
The Future: Building on Strengths, Fixing Weaknesses
For all of its struggles, AEW is still in a position to succeed if it makes the right moves. A few critical changes could ensure that it remains a viable alternative to WWE rather than just an interesting experiment in wrestling history.
- Define Leadership Roles More Clearly – Whether it means refining the roles of Omega and The Young Bucks or establishing a clearer hierarchy, AEW needs a more structured decision-making process.
- Maximize Ring of Honor – AEW must treat ROH as a true developmental brand, much like WWE’s NXT, to build new stars and better prepare talent for the AEW spotlight.
- Improve Medical Protocols – AEW must ensure wrestler safety is a top priority, implementing better concussion protocols and long-term care programs.
- Consistently Elevate Young Stars – With Sting and Bryan Danielson gone, AEW must build new top-tier talents who will define the company’s next decade.
- Refine Booking and Storytelling – AEW needs a more streamlined, long-term booking strategy to create compelling narratives and retain fan investment.
AEW has the talent, the resources, and the passion to be a true force in wrestling. The question now is whether it can learn from its mistakes, make necessary changes, and build a stable future. If it can, AEW may not just recover—it may finally solidify itself as the strong alternative wrestling fans have wanted a
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