PG isn't just about removing the bad language, blood, and t&a, it's about marketing wrestling to children more so than it has been in the past. Ring psychology isn't really required because it's lost on kids, especially when there are commentators to sit there and beat them over the head with what the story is every 10 seconds. This is why the average match is mostly about the entrances and post-match shenanigans and the actual wrestling content amounts to five minutes of punches and kicks in the corner and the odd headlock. Finishers are recycled and the big bad SOB rookies use pretty basic slams, because children get that. They get that a really big man slamming a smaller man down hard hurts.
Kids are not really programmed to sit through, understand and enjoy a 20-minute match that consists primarily of going after a body part and building slowly towards being able to lock in a submission. They get bored watching guys writhe around looking for the ropes or an escape. The PG WWE is about the quick, to the point, flashy encounters that children understand, and submissions are unfortunately just not so flashy.
Just my take.