I always assumed it was separate tapings for Saturday Night, Worldwide, and whatever other c-show was around by the end. But my memories of Saturday Night end with janitor Duggan beating junkie Regal in a match for the trash belt.
Mid-90s Saturday Night (or WCW TV, really) as the muthaship with the CGI construction equipment and shit is one of my favorite taping areas ever. They were able to make it feel as important or irrelevant as they wanted, somehow, and I always loved how it looked on TV.