In this episode of the Squared Circle Podcast, I’m diving into a topic that’s been buzzing for a while: the real story behind Bullet Club and its role in the recent struggles of New Japan Pro Wrestling. There’s been a lot of talk lately, especially after the New Japan Cup on March 11, 2025, about whether Bullet Club is a contributing factor to NJPW’s issues. So, let’s break it down and get to the heart of it.
Bullet Club and its Influence
Bullet Club has always been one of the main attractions in New Japan. For years, it’s been a faction that generates tons of fan excitement, from their matches to the merchandise they move. Whether it’s David Finlay, the leader of the Bullet Club War Dogs, or other popular members like Clark Connors and Drilla Moloney, the faction still has its loyal following.
But recently, we’ve heard a lot of criticism aimed at Bullet Club, particularly from Tanahashi, who’s trying to recruit more members for Hontai to one day take out Bullet Club. The narrative seems to be pushing the idea that Bullet Club is the reason for New Japan’s decline in fandom. But let’s get real—Bullet Club has not lost its appeal with fans. They’re still popping crowds and drawing attention with every appearance. The issue lies elsewhere.
AEW’s Impact on NJPW Talent
A big part of the problem is the relationship between New Japan and AEW. For months now, we’ve seen New Japan talent consistently struggle in AEW. Whether they’re getting placed in random, non-storyline matches or stuck on AEW Collision, or in Ring of Honor, the way AEW is using New Japan talent doesn’t do them justice. Fans outside of the NJPW bubble have no idea who these guys are, and it’s diminishing their impact.
Let’s talk about Ishii, for example. A staple of New Japan who’s seen a lot of losses in AEW’s Collision show, with little to no follow-up on his character. This kind of booking waters down what should be one of New Japan’s top stars. When NJPW talent makes their way to AEW, they often end up losing in non-stories, and it makes it harder for fans to stay engaged.
The Strained NJPW-AEW Relationship
Looking at the bigger picture, the partnership between NJPW and AEW has yet to deliver the goods. AEW has taken top talent from New Japan and allowed them to write their own stories and matches that fall flat—15-minute pop sensations that are easily forgettable. AEW has been more focused on the quantity of matches rather than the quality of the storytelling. The same "best friend to my enemy" trope can only go so far before we realize that no one is truly being creative in AEW.
It’s not about having more matches; it’s about telling meaningful stories that leave a lasting impact. AEW’s overuse of New Japan talent has led to a dilution of what made them special in the first place.
Is Bullet Club Really the Problem?
So, is Bullet Club to blame for New Japan’s struggles? Absolutely not. The faction is still as popular as ever. If anything, it’s the broader decisions that New Japan has made, especially the way the AEW partnership is affecting their storytelling. Bullet Club, under David Finlay's leadership, still has potential and keeps the energy high. The real issue is that AEW has had a major influence on New Japan’s talent pool, and it’s watering down what was once a well-established, focused brand.
The Road Ahead for NJPW
To put it simply, New Japan’s identity is at a crossroads. Tanahashi’s comments about Bullet Club are a distraction from the bigger issue: AEW’s overexposure of NJPW talent. If New Japan is going to get back on track, they need to rethink their partnership with AEW and focus on building long-term, impactful stories for their wrestlers.
Until then, the NJPW brand will continue to struggle to find its footing. It’s not Bullet Club that’s the issue, but how NJPW has been used in the AEW ecosystem. If something doesn’t change soon, we may be looking at an uncertain future for one of pro wrestling’s most iconic brands.
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