I wish he would have done the same for wrestling around 1990. 
I know I'll get heat from some of you for this, but while we give the old man a lot of shit on here, we also need to give the devil his due; Vince McMahon Jr. is, in my opinion, the worst and best thing to ever happen to pro-wrestling.
Follow:
VKM played a part in the death of the territories, but I don't hold him responsible for their demise. Business was down, and the territories were already becoming a dying breed by the time Vince came along wanting to purchase the WWWF from his Dad. With the exception of JCP, professional wrestling was headed the way of vaudeville. Had Capitol Wrestling continued on as it was under Vince Sr., then it would probably have followed. NWA held on longer, but even they encountered problems later on in the eighties.
In changing the landscape of the industry, Vince saved wrestling from extinction by turning it into something that could survive with the new times. Sure, it was cheesy, corny, tacky, and insulting to the purist fans, but it's what mainstream wanted. And wrestling, by that point, needed to go mainstream in order to survive as the smaller outfits folded. As horrible as it was to lose the "old guard," the reality is that the percentage of traditional fans like us does not comprise a big enough chunk of the market to support the operation of the billion-dollar business that wrestling had become.
The wreslting business fell prey to the "all-or-nothing" pitfall. We have the coporate giant, WWE, and indy-promotions working gymnasiums and state fairs. TNA is the only entity that falls in the middle, but I consider them closer to indy-level with national TV exposure - and, a few people making big money.
I miss wrestling the way it was, but without a market, the only place we'll ever see it is on Youtube and DVD.