You are going to get two kinds of answers from two types of fans. You are going to get the TNA super-mark, nut-jobs who actually believe that Hall/Nash/Waltman were NEVER stars. They believe that somehow guys like Joe, Daniels, etc., who have nowhere NEAR the name recognition of a Scott Hall (who was a GREAT wrestler in his day, you moron), can help put EY over much better. I agree that Hall and Nash are well beyond their prime, but they are still relevant, and name recognition goes a long, long way when building a new star.
Then you will get the old school fan (like myself), who thinks Hall/Nash/Waltman are going to really help this kid. Nash is great on the mic, and that seems to be rubbing off on EY. Hall and Waltman, while well past their prime(s), but are still big names, and to even be in a feud with them will give EY a boost in popularity.
This is a sink or swim deal, though. He and Waltman (who can still wrestle) are sort of going one-on-one in this feud, and that will help EY showcase his actual in-ring talent. Being a part of this can't hurt him. It can only help, and he is going to have to help himself.