I think it would be easy to come up with 100 reasons why World Championship Wrestling isn't active today. Obviously, "OMG KWEE WEE" didn't contribute directly to WCW's demise, but there's a bunch of little things they did, or opportunities they missed, that explains why Vince McMahon is in charge of it all today.
1. Letting the inmates run the asylum.
2. Not capitalizing on La Parka's overwhelming popularity.
3. The fingerpoke of doom.
4. "That 70's Guy" Mike Awesome
5. "Fat Chick Thriller" Mike Awesome