I think this is a perfect example of how wrestling is now over-PPV'ed. When you have three separate "original programmings" going on a week, why would people want to shell out $30-50 for a PPV? They have at least 12 different opportunities a month to watch wrestling for free if they have cable, and most of these shows are putting on "PPV caliber" matches.
That's likely why WWE is trending towards the gimmick Pay Per Views. You might not pay to watch Edge / Jericho in a regular match, but you might pay to watch them in a cage.
I miss the days when there were 4-5 PPV's. Rumble in January, 'Mania in March / April, King of the Ring (personal favorite) in June, Summerslam in late August, and Survivor Series in November. Feuds could be built slowly over time until there was actual reason to watch a culmination, and when a PPV arrived, it was appointment TV.