#4 Lack of a villainous authority figure
Whether The WWE Universe wants to admit it or not, wrestling needs villains and they also need authority figures. Of course, it doesn't always have to be as outlandish as Baron Corbin's run was, but if there is no storyline element at play when it comes to who's running the ship, it's not going to be much of a cohesive storyline
With that in mind, it was really surprising that The McMahon's didn't start arguing over how to run Raw and Smackdown Live or even have Vince McMahon offer whoever could make things better control of both brands. At least that way there would be some kind of storyline at play with WWE's top figures and it has the possibility to lead to corruption.
It also has the ability to create an underdog situation for Smackdown Live where they finally go toe to toe with Monday Night Raw and come out on top. If nothing else, that would be some of the best storytelling WWE could do right now and would more than serve as a launching point for the road to WrestleMania.
In the end, there needs to be some kind of driving force on both Raw and Smackdown Live. While a babyface authority figure will work for a short amount of time, a heel authority figure would help make Raw and SmackDown Live more watchable. In fact, it could create an attitude era like feel that would definitely help bring fans back.