I'm not sure if WCW and WWE could have co-existed. The Monday Night Wars was destined to be a flash in the pan, they had to be a "winner" and it just happened to be Vince. There would be no way a second "major league" promotion could have existed. Look at the NFL or MLB, it would be next to impossible for a new league to start up and capture a sizable audience. Not only did Vince fail with his XFL, but do you remember the USFL or CFL? All were viewed as inferior products or bush leagues, not real competition for the "real thing". So eventually either WCW or WWE if BOTH survived, one would have eventually become what TNA is today. A product seen as inferior to the "major player" in wrestling.