When you look at the survival of a television show (I say television show as opposed to a sport because amateur wrestling really doesn't get much if any airtime, unlike some college sports), there's not much stability in it. There are many reasons that WWE might not exist in 50 years, and though they aren't individually very likely, combined there is a great chance of 1 of them happening. Here are some pretty simple and basic reasons that WWE will not exist, all of which are pretty reasonable and aren't even the unpredictable stuff that might happen.
1) Television stations might not want to carry WWE anymore. Let's face it, WWE has changed stations for their different programs a lot. I don't live in the USA, but they have changed from ones like TNN, USA (and back), whatever ECW originally was on, Spike, UPN, etc. Fact is, some stations might not have the time for WWE, or they might want to change their station's image, they might undergo management changes, etc. There are so many reasons that they might get dropped at any time to list, and that's exactly how WCW fell. Their television deal fell through, and all of a sudden they were at WWE's mercy.
2) A wrestling company doesn't need 50 years to build. Look at how long WWF/E has really been around, 40 years or so? Within the next 50, there may be another promotion to come along and get in a ratings war with WWE and they very well could win it. Hell, some may even argue that TNA is that threat, but even if they aren't, there is still plenty of time for a company to start up right now and take WWE out. Not to mention that WWE has let go of a lot of talent that could've been an asset to their company from writers, to the creative team, to wrestlers.
3) The rise of UFC and MMA in general is already having an effect on wrestling. Many fans are opting for the more real fighting and unpredictability of MMA, including myself. There are no cheesy storylines, the titles and PPVs aren't overused, and the booking of the opponents seems much more fair. Vince originally stated that UFC are not their competitors, but quickly backed off that statement and has said that they do consider them competitors now. Not only are they stealing fans and ratings from WWE, but they are also in a good position to take some of their talent. Obviously the example of Lesnar comes up and the more success that Lesnar has, the more likely talent will bolt for MMA. If Angle were younger, there's a damn good chance that he'd actually give MMA a chance. One of the top guys in the WWE at the time (Lesnar) and one of the top guys in TNA right now (Angle) could've left and made a good living, and I'm sure others will look at MMA as an alternative to the harsh schedules and sometimes getting screwed out of money.
4) Ever since the Monday Night Wars, the ratings have dropped considerably for the WWE. They went from like weekly 6 or higher ratings to now around 3. Their ratings have cut in half in about a decade (not too sure how long it actually has been). After a while of crazy stunts, fans get tired, ratings drop, revenues drop, and nobody wants to see the manufactured product anymore. Thus, WWE starts to lose money and Vince will look to get out of wrestling.
Then you have some other options like Vince wants to get out while he's ahead, and maybe neither Shane nor Steph are ready to take over full-time and they end up driving it into the gorund. Other minor options like these combined with the big 4 that I chose, and WWE could very well not exist in 50 years.