To be fair by 99, Vince McMahon himself couldn't save WCW, so why would people expect Russo too? The problems with WCW were much greater than just creative, and Russo was just a scapegoat for not being able to save them.
The New Blood angle initially was actually pretty damn good to go along with the New Blood Rising PPVs, and the Nitros that supplemented it (Thanks to Russo and Bischoff actually making an effort to incorporate each others ideas together).
The problem is just like today the negative IWC just wanted to focus on and over analyze any little non centerpiece that didn't seem right, such as Hogan vs Kidman, instead of just sitting back and just enjoying the shit that wasn't WWF. Sounds like a reoccurring problem today.