I listened to the FRL guys on this. They all slammed the idea.
Based on what I heard, I think the PROWL idea is great. It puts money into athletes' pockets, and it creates a fan-friendly event. Any professional wrestling league is going to need very deep pockets for years until it starts to turn a profit. Maybe PROWL can turn a profit at some point down the road if it is given a chance. How long did the UFC take to turn a profit? I know it lost a lot of money for a very long time, but it looks like it's in good shape now.
The NFL and college football thrived in part because they limited the length of their seasons and the number of events to one a week (in the olden days). These PROWL events each week will have a lot of meaning.
The FRL guys seemed to think that this process will fail to pick the best competitor. If a guy is really going to be a world medalist, the format won't matter much. It would be nice for the best 2 out of 3 series in the world team trials finals to be a two-day series with two weigh-ins to simulate worlds, just so that we know that guys can make the weight and perform. Or you could just have them weigh in two days in a row before the finals, I guess. In addition, this format does not give returning world medalists extra protection (unless they claim to be injured), which I see as a positive thing.
It's reasonable to say that this format will make things harder on the RTCs, but if PROWL becomes the way that the world teams are chosen, the RTCs will have to adapt to the new reality or their NCAA teams will become less competitive. Running an RTC is a burden for every college coaching staff no matter what, but it is the price of doing business.