A logo is supposed to be simple. Look at the Nike logo, the Sony logo, look at the Universal logo as a standstill. They're one word in a font on a black background. The new logo has a gradient - it's like something out of 2000. The fonts are all over the place. I can see three alone as it is. Also it looks like the logo for an eFed. Doesn't help. You're right though, with the right animation it could look good, but I just read the newsletter and TNA are going to be cutting a lot of costs in production to pay wrestlers so the cool animations may become a thing of the past.
Trust me. You can go very VERY far with graphic design with just Youtube, public domain and some creativity. It doesn't have to actually be expensive to look good.