I think that the Tyson Comeback bout kicked prize fighting in the nuts pretty hard, and it's still on the mat.
For those too young to remember, Tyson got out of prison and was set up for a match. His opponent was an unknown school teacher who took a dive before Tyson got in the ring. Exaggerated of course, but it was promoted as a major bout, and it was a joke.
Everyone came to realize that it wasn't who was better, it was just an easy paycheck for promoters.
Don King was to blame. At first he boosted boxing up to new heights, then cashed out. He conned many of his clients, and lost several lawsuits (Ali, Witherspoon, Tyson, Lewis, etc), settling for pennies on the dollar of the amount he stole from them. Can't believe they put the guy who killed boxing in the Hall of Fame.