#2 Seth Rollins isn't drawing viewership
Now, it would be a crime to blame Seth Rollins alone for Raw's declining ratings but since he is the biggest Superstar in this brand (after Becky Lynch), it's his responsibility to draw the ratings.
A majority of WWE fans believe that Vince McMahon shouldn't make part-time champions but from to time, it is proven that his strategy works. Whenever Brock Lesnar returns on Raw, ratings spike. But it isn't happening with Seth Rollins. He is a fighting champion, the fans love him, and almost everything is going great with him. Yet Raw is losing ratings every week.
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In no way, he is a 'bad' champion, but it's likely that WWE may want to do some title changes and find the perfect Superstar for drawing viewership. It doesn't need to be Brock Lesnar, as someone like Drew McIntyre, Braun Strowman or Kevin Owens could do the job.