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Top faces coming out on top in most feuds is fine, I guess. I mean, it's stupid, but they can work with it and have it be alright. But having them be invincible to ever tapping out is something that even kids will pick up on after they've watched for long enough. It kills the drama in someone heroically fighting his way out of a hold that nobody else can break if every top face can break it every time.
As with all of these things, I feel like the primary barrier is "this is how we've always done it, so **** you."
I think you hit it on the head when you say that the reason is "this is how we've always done it". The only problem I have with that is, WWE has cherry picked certain traditions they will keep and others they wont even if they contradict themselves. I understand not wanting your top "faces" to tap out, but when you really dont have any heels anymore, there really is no reason to keep that alive. Although I put the blame as much if not more on the wrestlers for that than management.
The reason it was done in the past was because you had clearly defined faces and heels,and it was understood that the faces would always out wrestle the heels and the only way for a heel to go over was to break the rules. So it was rare when a babyface was even put in to a heels submission move. Currently, because for whatever reason, every wrestler has to get all of their moves in every match regardless of the situation. So the instances of faces being in the "heel's" submission hold has gone up exponentially. So like just about everything else with today's wrestling it has become cliche to not tapout.
I know I went on a bit of a rambling tangent but I hope I made my thought clear.