Vince is no genius and that is leading the WWF down the tubes. Let's look at things that he's done in the last couple of years.
Switching networks. He moved Raw from the USA Network to TNN which is in fewer homes lessing access to his product. He passed up a deal from Fox to sign with UPN, again with less outlets. He blew tons of cash on the XFL in a sport he has never marketed or had any experience in instead of bankrolling the money to sign talent to his main money maker.
The Invasion Angle never got off the ground because he tried to tun it with inferior talent. IMHO he did this to stick one final knife in the WCW carcass. I mean, look at what matches you were getting some scrub jabroni vs Kane, the Undertaker, the Rock, or SCSA. WTF was that? Some big threats these guys were. Instead of trying to put the WCW on equal footing to retain the interest of the WCW fans, it was a squash job every week.
He should have negociated with the big names and got them under contract first before doing anything with WCW. Some guys are content to sit out their contracts like Goldberg, Lugar, and Sting(who is supposedly retired now) because of Vince's pay structure which is less than it iwas in WCW instead of taking the paycut. Can't really blame them. Hell, that's exactly what Hall and Nash did in waiting for their contracts to expire.
Now comes the split, latest rumors have the Flair part of the promotion going to UPN while Raw remains on TNN. The NWO will be on both shows supposedly (yawn). How Vince splits the rosters will determine if this is a success or another failure. If he loads up the TNN show it will bomb for him financially as the XFL did. His stock has been going in the tank since the XFL folded and another failure like that could make Vince's little empire vunerable to a real take over. We all know who's now running things for AOLTime Warner now don't we? It'd be funny as hell if Vince was forced to sell to his onetime rival Ted Turner.