The name change would have been better received if two factors were different:
1. The actual name change
Pick a word other than "Entertainment." That was, is, and always will be a shitty name. "World Wrestling Entertainment" doesn't flow like "the World Wrestling Federation" did, and breaks the trend of the company's name sounding authoritative.
Enterprise. Empire. Eminence. Evolution.
All better ideas than "Entertainment."
2. Booking
As we've all said for over 20 years now, the product was in the doldrums at that point. There's plenty of reasons that could be argued as to why (lack of competition, Steph in charge of creative, panic after the post-InVasion decline), but it's undeniable that shows around the change from the WWF to WWE were worse than they were six months prior, let alone a year prior.