#2 WCW stays slower and steadier

To oversimplify a bit, WCW underwent three major stages of evolution to arrive at its heyday. First was hiring Eric Bischoff to the role of Executive Vice President, which saw the company’s business practices shift and WCW start to yield a profit.
Next was the signing of Hulk Hogan as a step toward genuinely competing with WWE. Then there was the rise of WCW Monday Nitro and the launch of the New World Order (highlighted by Hogan’s heel turn) that allowed them to usurp WWE as the top wrestling company in the world for a time.
Look who just shut down all of Tony Khan's critics! More HERE.
Remove Hogan from the equation, and WCW likely would have still reached a point of pursuing competition and signing away top stars.
Without as definitive a star as Hogan at stake, though, we likely never would have seen the same kind of radical shifts on WCW’s part, but rather a more slow and steady approach to its growth.