Vince getting acquitted really saved the wrestling industry. If Vince went to prison, Jerry Jarrett would have ran the company. I don't think they would have went out of business but the company and wrestling in general wouldn't have thrived.
No Nitro, no NWO, no Stone Cold, no DX, no Montreal Screwjob.
If anything WCW would have probably closed up shop sooner since the Turner executives always hated wrestling and wanted to get rid of it but Ted Turner wouldn't do it. The company was always loosing money until 1997-1998 so without the Monday Night War bringing in money and the AOL/Time Warner merger bound to happen, the company would have been shut down a lot sooner.