My thought is that McMahon is stupid, doesn't really care for the sport, and just cares about pumping up his ego by saying "Look how pathetic they are! WWF was the best all along! Yippie!" Didn't we already see this with the so-called Invasion? Folks, this is lame in the extreme and I REALLY hope another wrestling federation comes along soon to compete with his sorry ass. If the NWO totally goes away and Hogan turns into the yellow monster again, the only thing that will keep myself as a casual, ex-WCW fan watching is the women's division (I know, this sounds stupid but I don't care) and even that might not be enough if they keep messing that up too much.
The nWo has a chance to redeem itself if it goes all clique and turns into an nWo/DX mix. For it to really work though they would have to bring Shawn Michaels back pretty much full time.
The Rock really tore into Hall and Nash on RAW and it's too bad, because they were really laying it into Hogan. Not only that they were making the nWo's failure make sense storyline wise. Now Hall and Nash are two of the best on the stick, but they really need an HBK. Someone who can really get away with a *shoot* comment now and then.
If it were me I would go with the combo of Hall, Nash, HBK, HHH, and X-Pac and that's it. There really should have been a run in by X-Pac during RAW though. It would have set up the whole rebuilding of the nWo...much like the rebuilding of DX that X-Pac helped create after WrestleMania XIV.
In my opinion since the wwf had hogan turn face already then the nWo need a big name player (HHH, UT, HBK) to join them. That way they regain some lost heel heat and can become more than just a tag team. They can regain the status of a bad ass heel group since the poison label is pretty much gone.
I am the JOBBER TO THE STARS. You better remember that.