Has this happened other times?

[Lance Uppercut]

Remember when R-truth was a fresh main event heel? He was amazing.

Sadly, it was cut short due to the rise of Punk.

Has there been other occasions where a guy just hits his stride and looks to on his way up but another guy just shows up and completely blows him away and completely usurps his position?

I guess Miz had this happen to him with the Rock. Remember when most of us all liked him and thought he improved greatly? Then the Rock returned and we were all like "Man the miz is really boring" and "dude why the hell aren't we getting Rock Cena this year instead?"

[sybaku]

Ohh man you implied people liked the Miz, get ready for a shitstorm.....

.... Anyway on topic
PTP are having that happen because of Rhodes Scholars and Team Hell
No and not WWE but World Elite in TNA when Hogan showed up