Throwing in the towel finish

So I was watching some early 80s wrestling and wondered why the throwing in the towel finish went the way of the dinosaur. It's still legal in boxing and it's a good finish to have if you want to protect a wrestler during a loss, plus it can be used as a plot device for a face/heel turn.

Absolutely correct.  Plus there's a billion ways to screwjob it creatively.  I myself am I huge fan of it and I'm also kind of stunned that it hasn't been used since, what, Survivor Series 1994?  You can have the heroic babyface who doesn't give up but has someone surrender for him so he doesn't get hurt further, or the babyface who doesn't give up but someone fucks him over, or the heel who "gets his" by having someone throw in the towel to cost him a title, thus keeping him strong.  It's a GREAT finish.