Then there was the time Diesel and Razor Ramon defected and Vince put up these two clowns who didn't look anything like them under their old ring names. Painfully funny.
The biggest creative genius ever in wrestling was Paul Heyman a/k/a "Paul E. Dangerously" during the years 1996-1998 (I think that's the right 3 year span) when he ran the now defunct ECW. The whole wrestling resurgence (that likely stopped about 3 years ago) can be traced back to what Paul E. did in ECW.
You had the best storylines (Raven v. Tommy Dreamer - Paul E. made you wait 2 years for the payoff), best wrestling (all the cruiserweights, Malenko, Tazz, Benoit), and some of the most insane performers you'd ever want to see (Sabu, Terry Funk, RVD, Mike Awesome, Tajiri)
That time in place in wrestling history will never be recreated. While the WWF and WCW were pushing cartoon characters, ECW was about 2 years ahead of the curve. Hell, Steve Austin started his "Stone Cold" persona in ECW, which is the character that is credited with wrestling resurgence in the late 90's.
Too bad Paul E. didn't know how to run a business and had all his talent stolen.