It’s hard for a week long festival like WrestleMania to have a “big time” feel when they go to a city like New York. Unlike New Orleans where everything is all together and walking distance (along with no open container laws so people can drink and have fun), everything in NYC is so spread out and far apart and not reasonable walking distance from one another. It’s a hassle and a much more expensive experience for the fans.
Not to mention that on any given day in NYC there are a million other huge events going on. In fairness though, it’s hard for any city to top New Orleans for big sporting events or conventions. Las Vegas is good as well.