Kayfabe is the issue. Wrestling exists in the space where any intelligent person says "you're putting me on" and can't entirely connect. Either the matches need to be legitimate sporting events, or the performances need to be even more heightened, so much so that they have clear athletic, dramatic or metaphoric intent.

Add more diverse characters which overlap with the personas you're seeking to appeal to?

I'm not sure there aren't already highly educated viewers. I'd also point out that not all highly educated people are the same.

In the end I find most wrestling enthusiasm stems from childhood viewing with friends or family.

In current times though, it also has to compete with the adjacent mixed martial arts.

The issue with wresting for me will always be the fake punches... Not sure how you can tackle it, but it doesn't seem real and I lose interest on the match itself...

John Carmack is or was into wrestling. Maybe you can talk to him for ideas. I never spoke to him and he seems to be quite open to discussions he is interested in on X.

Make it not about a bunch of sweaty dudes hugging each other on the ground? Just don't really see the appeal.