Wrestling in general is in decline, in the same way that certain types of TV shows and genres of movies are hot for several years and then fade away.
You know how over the last decade, we've seen the rise of reality TV shows where clashing personalities are placed together and the arising conflict that isn't scripted, but not entirely unplanned, draws viewers in? How shows like American Idol where the fans dictate the course of the program have become popular?
That is exactly what wrestling is all about. Wrestling shouldn't be in the decline. Wrestling has always been about being a dynamic product where the fans and performers participate in a feedback loop, influencing one another's actions, resulting in entertainment. About scripted brawls where punches do get pulled, but people still fall onto their backs and do backlips off of elevated platforms onto the ground for our amusement.
Scripted but not fake entertainment is IN. Wrestling should be popular. Not on the way out. MMA should be supplanting boxing, not wrestling.