Went back and read the OP and I agree with pretty much every bit of this. I vividly remember this in real time and 2001 was but fun and frustrating as hell. The part you mentioned about the crowd was spot on. I think people forgot how hyped crowds used to be, not that "THIS IS AWESOME" look at me shyt these crowds do today, REAL crowds.
The part about Edge
though I think the general TSC disgust of Edge is very weird, I get what you were saying about Edge in 2001. Edge was maybe 75% face/25% heel at this time, but in general, he was just MEH in 2001, and didn't really start gaining anything personality wise on his own until when he came back from his injury in 2004 as a tweener. That's when you really started seeing who he could be on his own, and Lita put him over the top the next year.
It was disgusting that they reduced the entire Invasion angle to McMahon family drama and WWF vs WWF. Just look at the way the multi-man matches are set up:
Look at the Alliance side. Rhyno was popular, but still a midcarder. The Dudley Boyz were stale as hell like you said. DDP and Booker T were WCW's two biggest stars (who accepted buyouts), but DDP had already be demolished and embarrassed at this point. Booker T may have been the only legit Alliance headliner here (but we know what happened post-Alliance and pre-King Booker
). Meanwhile, look at that star studded Team WWF lineup....
Now look at this Winner Take All match. Team Alliance is WWF made Kurt Angle, WWF made Stone Cold, SHANE fukkING MCMAHON, Booker T, who though still was very popular, was coming off having Shane at ringside as he lost to the Rock at Summerslam (Booker hitting his Scissors Kick and taking 40 seconds doing the spinarooni then walking right into a Rock Bottom was one of the dumbest things ever). Booker T was also two time tag champion with Test at this point, meaning they viewed Booker as a very popular midcarder. Ditto to RVD. Look at that WWF lineup. Big Show til this day can be flipped on and off to look like a force, but you basically had main event stars all across the board. The WWF never ever planned on making WCW guys look legit, and there's a reason people have tuned out in droves for years. If you come from another company, you will be dismantled and built back up in the way the WWE sees fit.