Backlund was as relevant as a RAW Legend recently... He didn't use the "Mr. Backlund" gimmick, but he wrestled on RAW far more recently than Striker has and more to the point got a much better reaction than some of the other legends they brought out AND was in phenomenal shape for a guy his age.
He also has history of "coming back", most in 93 didn't know who he was, but he ended up WWF Champion again, so he has some Pedigree, some history and a way in through Cody saying "This is a man I was brought up to respect, who has the values I aspire to and Sandow is his "student".
I don't advocate Bob wrestling again, but all Striker has is that he was a high school teacher who got fired for wrestling... Backlund has the pedigree of being a 2 time champ (which makes him instantly relevant to both men's eventual goal) and when using the Mr. Backlund gimmick that believable physicality that would make him not only a distraction for opponents but a legit threat if he "snaps".
They reshowed the Mr. Backlund for Pres thing on WWE.com where he goes round Philly... It was bugnuts but exactly the kind of thing that would enhance the team in question.