No, Chris Jericho's return could have been much, much worse.
He could have came back, rarely featured, rarely been promoted, rarely promoted the brand much like a certain Brock Lesnar. He could have made part-time appearances I'm sure, if he wanted to. He couldn't have featured in the Royal Rumble, he couldn't have featured in the Elimination Chamber. We wouldn't have had his match with CM Punk at Wrestlemania which can be debated as the best wrestling match of the night. He couldn't have put CM Punk over not once, but twice. Wouldn't have got the few good promos he cut, "Don't drink too much, it could go straight to your head!"
Hell, he was quarter the reason for the great Fatal-4-Way at Over the Limit, so in reality it could have been much, much worse. Whether he returns this time, once again as the sniveling, whining, mind game playing heel or as the charismatic, lovable, comedic face, I couldn't really care and in the grand scheme of things couldn't care. He is an asset to the product, one of the most easily marketable people the company has, is achieving success outside of the ring and truly, doesn't even need to be a wrestler, he does it for the fans and because he loves it, so show a bit more appreciation.