It did because WCW ended up overpaying for exiled WWF superstars. It didn't because at one time McMahon's primary focus was to run WCW out of business. To achieve that goal WWF got away from having a clear line between good and bad (i.e. Steve Austin) and started using more "adult themes" to lure younger audiences (i.e. De-generation X, Edge's bed gimmick in the ring, female wrestlers doing more bikini contests, female wrestlers doing pantie/bra matches, etc).

WCCW (World Class Championship Wrestling) was a smaller organization based out of Texas that the von Erichs made their name in. Eventually the bigger stars moved on to either the WWF or NWA/WCW and the organization couldn't remain competitive.

The AWA was in a similar boat as WCCW. Once big names like Hulk Hogan, Shawn Michaels, Diamond Dallas Page (originally a manager for Bad Company), Larry Zbyszko, and other big name stars moved on to WWF or NWA/WCW, Greg Gagne (or whomever owned it) couldn't compete with the larger companies.