Hogan has tried to do something like the Hulkamania tour before but the whole thing bombed. A few years back, Hogan and Jerry Lawler were going to headline a card in Memphis but Lawler had to pull out of it because of some hitch involving his contract. WWE has a contract with NBC/Universal and, at the time, Hogan had the reality show on VH1 and NBC/Universal didn't want Lawler on a show run by a competitor. Of course, Vince gets the blame even though he ultimately didn't have anything to do with it.
Anyhow, Hogan went through with the gig anyhow and Paul Wight, AKA The Big Show, stepped in to take Lawler's place and the gig didn't do so well. I think somewhere around 3,000 people showed up for it, which is actually pretty decent overall, but it definitely wasn't what Hogan was going for.
Hogan could use his name in wrestling in a non-wrestling role and still draw a lot of money, but he doesn't want to do that. The problem with that is everyone is fully aware of his physical decline and not nearly as many have an interest in seeing him wrestle anymore. Why? Because Hogan is physically at a level where he can't really give anything resembling a physically competitive match. Now, I'm sure there'll be a pretty good crowd that shows up to the tour's first card, out of nostalgia if nothing else. However, I'd say the crowds'll go away pretty quickly once it gets out just how limited Hogan is now.
As far as a wrestling role goes, I have no interest in seeing Hogan whether it be in the WWE or anywhere else. Hogan wants the moon and stars when he competes and what he brings isn't worth that anymore. The WWE doesn't need to bring him back so he can "pass the torch" to someone else, they certainly don't need him back just so young guys can job to him just so he can still feel like a big man and the young guys don't need to job to him because all it does is make them look bad.