I don't even know if I'd go that far. The Wednesday Night Wars was two companies owned by billionaires competing with one another. If NXT died it would have been by Vince's choice (which he never would do because that loses them money).
AEW could compete with NXT as long as TK was invested in the company. WWE was a corporation that even now makes more money than God.
TNA doesn't have that, they're owned by a relatively small company that makes a fraction of a fraction of what even AEW makes. It didn't work out for them in 2010, and it's going to be even worse in 2025, especially when their talent pool and booking is, respectfully, the drizzling shits compared to AEW now, and the talent they had in 2010.