The Four Horsemen
To be honest, this is a slam dunk in my view. We talk about these other factions such as the NWO, DX, MEM, and Evolution, but NONE of those factions would exist without the Four Horsemen.
Background of the Four Horsemen
This stable first started with Arn and Ole Anderson, better known as the Minnesota Wrecking Crew. They were a dominant tag team that beat up people on a weekly basis. They even won the NWA Tag Team Titles during this period. The one constant with these guys was their hatred for Dusty Rhodes, which started with Ole turning on Rhodes way back in 1980. It still goes down as one of the biggest swerves in pro wrestling history. The first signs of this stable being formed was when, big surprise, Ole turns on someone. This time, it was Thunderbolt Patterson. Thunderbolt wrestled Arn on a TV taping for TBS, and eventually, Ole was tired of Thunderbolt and then came the turn, when Arn and Ole both jumped him. This was the start of the Minnesota Wrecking Crew.
Our Cousin Flair
Eventually, the MWC would start an alliance with Ric Flair. The story was Flair was from Minnesota and relocated to Charlotte, which made Flair a 'cousin' of the Andersons. It also helped that during this period, Flair was feuding with Dusty Rhodes for the World Heavyweight Title and, well, The Andersons HATE Dusty Rhodes. Eventually, the Andersons and Flair beat up on Dusty quite a bit. This would be a constant for years to come. Working as a cohesive unit with none of the three guys too far away from each other. Flair and Dusty would have an epic rivalry, but it was spiced up with the addition of Arn and Ole Anderson.
Tully Blanchard Enterprises w/ JJ Dillon
Once again, Rhodes plays a huge role in this addition. Despite the best efforts of Arn and Ole and Ric, Dusty was still doing his thang by winning belts and getting one up on 3/4 of the Horsemen, THEN Tully Blanchard came along. See, Ole took some time off during the era of 1986, and in that time, the National Heavyweight Champion/United States Champion and his manager started a feud with Rhodes. His name was Tully Blanchard and his manager was JJ Dillon. What united the group was in a match with Rhodes, Tully was getting beat and about to lose his belt. This is where Flair and Arn came in. They jumped Rhodes, along with Tully, but Dusty was fighting them off. Until a returning Ole Anderson came in and undercut Dusty's leg. The group injured his leg severely, but didn't break it thanks to Magnum TA and others running in to save him. During a post match interview, Arn uttered the most famous statement in wrestling history, when he pointed to himself, Ole, Tully, and Flair and compared them to the 'Four Horsemen of the Apocalypse'. The name stuck, and the rest is history.
The Horsemen = Success
Everyone involved with the Horsemen during the years got a rub they'd never have in their wrestling careers. Lex Luger got his START as a Horsemen, and became a solid wrestler in his own right. Barry Windham was a second generation star who helped the faction become as powerful as any in wrestling history. Many say that Windham, Flair, Arn, and Tully's version was the best out of the different sets of factions.
And what made the faction work so well was that these guys were legit friends outside of wrestling. They partied, had group sex, and spent money like it was their last day on earth. They went from town to town, tore it up, wrestled, left, went to another town, tore it up. Apply, rinse, repeat. The Horsemen done this for the better part of FOUR years.
In the 90's Jim Herd wouldn't have any of the Horsemen left over simply because he thought the faction was getting old with fans. Jim Herd managed a Pizza Hut and knew shit about wrestling. Eventually, the faction returned, adding STING to the fold along with Ole, Arn, and Ric. But Sting committed the cardinal sin of taking a title shot with Flair and well, we know what happened to Sting. Then they add Sid Vicious. Big mistake. He stabbed Arn and that just simply didn't work out. Even though Sid stabbed a Horsemen, he was much better than Paul Roma. Seriously. This is when the stable became stale and eventually was disbanded with Ric and Arn always being together.
During the Nitro years, they tried the faction again, but with a former football player, a stale technical wrestler, and a Canadian. It didn't work. And shouldn't have.
Even in all their failed attempts at bringing the faction back, NO ONE can dispute their impact on the wrestling world. Without them, you would have no NWO, DX, Evolution, or Main Event Mafia. And think about this, HALF of those factions (Evolution and MEM) have former Horsemen as their members. Think about that.
So it's not really a debate. It's like saying Lebron James is better than Michael Jordan. Sure, he might share some of his skills, but Jordan did it first, and BETTER than him.
So that's why the Four Horsemen is the greatest faction in wrestling history.