Can a promotion that makes wrestling it's focal point compete with the WWE?

AKA ROH. Can a promotion like ROH compete with the WWE? Clearly if ROH were to change its style to sports entertainment like the WWE, then it would turn more into a battle of stealing the WWE's fans which would be too difficult. It would be better for ROH to create its own mainstream style and attract new fans who never liked the WWE or aren't that big of a WWE mark. What are your thoughts?