WWE has changed its tone on WCW over the years. Considering how Vince McMahon bought the company in 2001 only to turn its remnants into a disastrous "Invasion" angle and subsequently taking every opportunity to mock his competition's legacy. Everything WWE's done with WCW's legacy has largely been lukewarm at best, and with McMahon out of power, Paul Levesque (HHH) should consider reinventing WCW to its former glory the way the company failed trying to do the same for ECW.
What's WCW's legacy in 2022? Its top title, the WCW Heavyweight Champion, went from the World Heavyweight Champion to the SmackDown championship, which Roman Reigns currently holds as Universal Champion. WWE attempted to extend the legacy of the praised WCW Cruiserweight Division with Live 205 before its cancellation in February 2022. The company also borrowed the names from past WCW events in Starrcade, Bash at the Beach, Clash of the Champions, Wargames, and most recently, Halloween Havoc. Starrcade, Wargames, and Halloween Havoc were NXT events.
It wouldn't be a bad idea to consider overlapping NXT and WCW from here on out. Let's start with Tuesday's NXT and start calling it Nitro like the original TBS days or Thunder if you liked the TNT show name better. Tony Schiavone might work for AEW, but you already have another credible WCW voice in Booker T doing NXT commentary. There are several gimmicks ripe for the taking, like the Horsemen or nWo. Who says it should stay in WCW? We already had the Horsewomen, that didn't stay long in NXT.
WWE's Horsemen was Evolution, and if you look at the company's history, they weren't beyond trying to ride the legacy train when Jim Neidhart and Owen Hart had The New Foundation or Natalya, Teddy Hart, and David Hart Smith with the Hart Dynasty. The Horsemen and nWo had several members as revolving door stables, and the core members (sans Ole Anderson) are already inducted into WWE's Hall of Fame.
It feels like these days, the company's cherrypicking and half-assing how they incorporate WCW's legacy rather than allow it to rise again like a phoenix. This a rare second chance, especially when talent's all funneled to the WWE way of doing things long by now. We're certainly far removed from what creative was in 2001 when they tried to pass off their WCW match in Booker T and (phoning it in) Buff Bagwell match on Raw. Also, by bringing the brand back, you give more opportunities for past WCW veterans like Mysterio, Nash, Goldberg, Mick Foley, Medusa, and Sean Waltman to give something back to the fans.