Your'e right that NXT sucks bigtime. 80% of the content has nothing, I repeat nothing to do with wrestling! Singing, dancing, jumping hurdles, balance beams, punching machine, joke telling, kissing, all of that has nothing to do with in-ring wrestling ability, which is what WWE should be about. No wonder it got such low ratings, and got taken off tv in USA.
Even Superstars sucks. It had random wrestlers from both rosters competing in inter-brand and inner-brand matches, and it focused on those who weren't getting airtime on Raw/SD, but it went downhill quickly. It didn't have storylines, and to make up for that, WWE pitted the same 2 superstars against each other 10 times.
If FCW was to gain national exposure, and be on tv, it would be better than Superstars, since there are somewhat storylines, and new talent that the world has not seen before. And the talent at FCW wouldn't have to be subjected to going through that stupid NXT concept, win/lose, and then most likely be a lackey, jobber, or released.
In every season of NXT, when the rookies are being introduced, there is a footage of the rookies in FCW, which might make the crowd go WTF? What wrestling is that? Well if FCW wer'e to come on tv, problem solved. I don't think that FCW would be the best thing, but it sure as hell would be more entertaining that Superstars, and NXT.