Unless I'm mistaken they did the Wrestlemania press conference from there as well.
I'm sure it doesn't bother Vince all that much. Sure, it ended up going under, but in fairness most of the big themed restaurants in that style (eg. The Fashion Cafe; Planet Hollywood) bombed miserably as well.
I'd say that you picked a poor representative sample on which to base your opinion. But, it's just that. Your opinion. I at least give you credit for trying something new. Personally, I watch more stuff from Japan and Mexico now than I do WWF.