I don't even know what correlation Cornette thinks he's making there. The reason we don't have territories spread across America drawing 10K fans a week like we used to in the early/mid 80s is because of what could have been written on fan signs? What people were "allowed to say"? Protectin da wrestler's feelings? Used to get actual heat? Vince McMahon Unicron-ing everything and everyone back then leading to territorial wrestling not being to compete with national wrestling probably has more to do with it?
He's not wrong that they used to 'get away' with more (the amount of gay slurs thrown at somebody like Adrian Street, Adrian Adonis, etc) but I just wish he understood that was a good thing. Imagine being gay (if you have to) and sitting next to a bunch of people yelling "f*g! f*g!" at a heel as if it was encouraged. You're not making just the wrestler a heel at that point, you're making being queer the heel.
I'm saying all this as someone who way the fuck prefers 80s/90s wrestling to what's going on now but you can have shows like that back then and not have to keep the EVERYTHING.