There are several reasons why the Porsche 996 is the least-desirable 911, including the head lights, the interior, the shared components and the IMS bearing, with its tendency to fail causing catastrophic engine failure.

But the most important reason is also why many Porsche fans proclaimed that "Porsche had lost its soul" -- and that was the monumental move from air-cooled to water-cooled engine design.

But with so much pushback, why did the 996 become the foundation that endures today with the latest-generation 992 and how did it save Porsche from financial ruin?

To understand what exactly were Porsche's motivations for such a bold re-design and what it meant for the company going forward, you have to start with the 993.