How AEW will compete in an already saturated and modern-day pro wrestling market

Billionaire scion Tony Khan's entry into the world of professional wrestling is seen as the first major challenge to Vince McMahon's multi-billion dollar wrestling empire since WCW officially kickstarted the second wrestling boom in the late '90s.

Although many people also said the same thing when TNA opened its doors in 2004, the comparisons between Khan and Ted Turner's former wrestling conglomerate are far more accurate.

AEW is being bankrolled by Shahid Khan, a self-made multi-billionaire who also has a major stake in Fulham FC and also owns Jacksonville Jaguars. If money was the reason why no one could challenge Vince McMahon over the last decade, then Shahid Khan has the resources to mount the first real challenge to Vince's empire in decades.

However, the landscape of professional wrestling has changed significantly since the time WWE and WCW locked horns. WWE is now a publicly traded company that has to answer to stockholders and a board of directors.

It can't go back to the ideas and formulas that made it a success in the late '90s. Similarly, in this day and age, AEW cannot pursue risque storylines that were the norm in the Attitude Era.

Wrestling is unlikely to see another "Stone Cold" Steve Austin due to standards and practices

People have become sensitive to a number of issues, and so have censors. In such an environment, it is tough to replicate some of the content that was a staple of network television back in the day. The likes of Stone Cold Steve Austin and The Rock would likely not fly in today's world, which is skewing more and more towards a politically correct environment.

The WWE itself has also changed substantially. The company is now firmly a PG show first and foremost. It focuses on basic storylines that are easy to follow and does not steer too much away from a core audience that consists of children and families. Since they are not competing with AEW in that demographic, can AEW really be considered competition for the WWE? Only time will tell.

Vince McMahon has seen all of this before. He saw this when the territorial giants came after him as he ripped the old status quo of wrestling apart by going national. He faced a stiffer challenge from the likes of Ted Turner when WCW signed big names such as Hulk Hogan and the Outsiders.

He responded by forming a roster of hungry up and coming names and worn out veterans to kickstart the Attitude Era, after spearheading the last wrestling boom.

If push comes to shove, he has the capacity to do it all again. But this time around he has a diversified company that he needs to take care of. He is already spearheading the relaunch of the XFL, and WWE is also managing a growing web platform and movie studio.

In such a case, it's highly unlikely that AEW will be consuming much of Vince's energy, instead, it seems that the billionaire tycoon will look to his son in law, Triple H, to take over duties for him in his absence.

Triple H is another wildcard in the mix. The Cerebral Assassin has demonstrated with NXT that he is more than capable of running a wrestling show. Along with Stephanie McMahon, they form a potent pair that can easily answer questions AEW may pose to the WWE.

NXT is led on the talent front by Shawn Michaels, the man responsible for birthing the Attitude Era with the help of DX.

Triple H is poised to take on the mantle of running WWE soon

All things considered, AEW will become a nice alternative to WWE. Whether it will be able to beat WWE is another matter entirely. The company has said that it will be a direct alternative to WWE's product but it is more likely to compete with the likes of NXT in the long run.

Its success will largely be dependent on its ability to establish a well-rounded roster that can provide quality matches for sustained periods. With the likes of Ring of Honor and New Japan Pro Wrestling already vying for the number two slot in terms of viewership for North American audiences, AEW has a long way to go before it can lay claim to being an existential threat to Vince and his company.