It's getting better. There are some legit superstars in the making: CM Punk, Randy Orton, Christian, Dolph Ziggler, Alberto Del Rio. And Jericho can still work with the best of them. Cena is in a class by himself and I think a legit heel-turn would help him alot. Christ, even Triple H can still bring it. They have a great stock of mid-card guys: The Miz, R-Truth, Jack Swagger, Kofi Kingston, etc.
If you don't think WWE is still stocked with good talent, you aren't watching closely enough.