WWE usually refrains from even mentioning AEW unlike AEW who takes every opportunity to take a shot at WWE, as they should they are rivals one should acknowledge their rivals. WWE might have been refraining from mentioning them most of the time because they don't want to give free marketing to the rivals but AEW is not going anywhere anytime soon and more wrestling is best for business and WWE should accept that so how can they make fun of the explosion?
The first thing WWE could do on RAW tonight is just periodically makes jokes about it throughout the night. If they work in jokes about it in promos throughout the night that will be funny and not over the top confrontational as long as they don't overdo it with too many jokes. I'd say two to three is a solid number and even three could be perceived as too much by some fans.
I can't think of specific jokes off the bat but segments and talent that could best deliver said jokes about the sparklers of death at Revolution I can suggest. They could work it naturally into a New Day promo with Kofi Kingston and Xavier Woods making a direct rib at the expense of AEW. Another joke way is on an episode of Dirt Sheet John Morrison or Miz make a quick joke about it. A third possible way to make a quick verbal jab is have Nia Jax say something about it maybe in a indirect way. Like maybe she and Shayna Baszler are talking about having a celebration of their title defense on NXT last week and Baszler proposes having explosions then Jax makes a indirect jab about it that is not directly targeting AEW but it is heavily implied.
Next idea is instead of a few jokes just added in promos or backstage interview segments I suggest have ONE segment that includes jokes and a explosion of their own to make fun of AEW.
Here are three segments that could achieve poking fun at AEW by mocking it by imitating it. One and the one that should be first is a special edition of Dirt Sheet where Miz and Morrison do a quick skit about something else like maybe Lashley where they promise a huge explosion then at the end it is just some sparklers but actual hand held ones that Morrison casually lights then they both overreact too.
Suggestion two for a segment is do some weak pyro in someone's entrance, I suggest Matt Riddle. They could give some pyro for him then he just collapses and his friends Gran Metalik and Lince Dorado jump on top of him to protect him and just act dead to imitate Eddie Kingston.
The third imitation would be have a VIP Lounge celebration with the Hurt Business celebrating the Lashley title win and either McIntyre or Miz rig the celebratory "explosions" rigged to go off and then all Hurt Business members just oversell a weak explosion. Now I proposed three but if I was booking I would only choose one of these because you don't want to overdo it. Another segment suggestion is instead of doing a bad explosion RAW could do a better one but still safe one to show how it is really done.
Wrestling companies working with and or acknowledging other ones even if mockingly is a fun element in my opinion. It makes it feel more like a community and provides plenty of material for discussion for the fans both positive and negative. I hope WWE does something to acknowledge the now legendary explosion failure at AEW Revolution 2021 even if it is a more subtle jab than one of the ones I suggested.