#3 Society has changed
While the two previous points are perfectly valid, the issue about controversy in the WWE is as much an issue of demand as it is about supply. Maybe, on some level, we don't want to see another Stone Cold Steve Austin take centre stage anymore.
Part of Austin's appeal is that he embodied a very macho version of America where men and women's roles were more segregated, with the males going out and picking fights and staying clear of anything that could be construed as effeminate.
In today's society, at least in the West, we recognise that life is a bit more fluid and we hold people to account when we feel they are being offensive to others, particularly if that offence is built on sexuality, race and gender.
This is not to say that Austin was ever overtly sexist or offensive in his day, but he certainly represented a particular approach to life that young boys were encouraged to follow. He stood for old-fashioned values, drinking beer and solving issues with his fists.
For better or worse, today's top stars in the WWE are expected to have a much more delicate approach. John Cena's success, for example, has been built on the fact that he - for the most part - was a child-friendly superhero who visited his young fans in hospital and donated to charities. If Stone Cold was made to do this kind of thing back in 1997 it would have ruined his image a thousand times over.
As a society, we are generally more sensitive and willing to call people out when they infer that living one way is more favourable than another. Stone Cold may never be replicated because the world itself is just not prepared to return to the 90s.