They're actually in pretty good shape. They got a new TV contract long before the previous one expired. And the Khans have far more money than the McMahons.
WWE, of course, has the 30-year headstart, and they're much more established.
But AEW is hardly on life support. They're putting on the best TV and the best PPV's. Their ratings have consistently grown. They are now beating WWE in certain key demographics. And they're partnering with any other wrestling company willing to partner with them.
I mean--Moxley vs. Minoru Suzuki on Wednesday's upcoming show? AYFKM? This match is taking place b/c Mox really wanted it. They had a spectacular match back in Japan, and now everyone can see it.