I have to admit I am enjoying Stephanie vs. Eric and the GM era thus far. In fact, I think this could be some of the best stuff the WWE has done in the past couple years. It has a ring of reality to it that has been missing, and since we all know that Raw will be Nitro at some point in the foreseeable future, it may well turn out to be what we hoped for with the unlamented Invasion failed storyline.
You're probably right. In theory, with good execution and writing, it could be successful. Like the NWO. But that theory just doesn't apply to the WWE because they have bombed on every Concept they've tried over the last two years.