#2 The Invasion

WWE's major missteps and colossal failures would not be complete without the egregious Invasion storyline that plagued 2001. It should've been the biggest angle in pro-wrestling history: the ultimate confrontation between the industry's top two promotions that would finally produce years' worth of dream matches. Hogan vs. Austin? Undertaker vs.Sting? DX vs. nWo? Vince McMahon vs. Eric Bischoff?
Instead, fans got a half-hearted alliance between WCW mid-carders and former ECW talents, helmed by Shane and Stephanie McMahon. No Hogan, no Bischoff, no Flair. Just McMahons and a majority of forgettable WCW talents. In addition, the eventual leader of this WCW/ECW Alliance was WWE icon "Stone Cold" Steve Austin because nothing personifies WCW like Austin 3:16. What?!
Needless to say, WWE lost viewers in droves thanks to the bungling of this angle, and the hottest period in pro-wrestling history quickly faded into a distant memory.