Well it good be a good thing or a bad thing, depending upon how you look at it. For one thing, it looks as though this criminal trial is, for all intents and purposes, over and done with as the most serious charges have been dropped. So, Hardy doesn't have as much hanging over his head and doesn't have as much to worry about. He can potentially get on with his career and could be placed in more favorable positions by TNA in the near future. So, that's definitely something good I think.
On the other hand, if Jeff Hardy is someone with a drug problem or is hooked up with some shady characters, getting off might not do him any favors in the long run. Hardy has a history of self-destructive behavior and making poor choices that have cost him. This criminal case being a prime example. After all, being found not guilty, having charges thrown out or having evidence suppressed doesn't mean that you're innocent. You have innocent as in "I didn't do anything illegal" and you have innocent as in "I may have done something illegal, but I was aquited under the rules of the American System."
I haven't read any statements or press releases saying that Jeff Hardy is completely innocent of the charges. Even if his attorneys did release a statement, they're of course going to say that he's innocent even if he were as guilty as the day is long. As far as getting evidence suppressed goes, it's not really as hard as you might think. And, if evidence to back up certain charges is suppressed, then said charges are dismissed as well. There are an infinite number of loopholes I'm sure that Hardy's lawyers could exploit and it ultimately could've been anything. Maybe the search warrant wasn't properly signed or maybe certain evidence was found in an area not specified within the warrant or maybe Hardy's fingerprints weren't discovered on any of the evidence seized and the judge decided that, just maybe, it had been left there without his knowledge by someone else, etc. If a lawyer is clever enough, the area is gray enough and the presiding judge is able to make a ruling without much fear of being overturned, you'd be surprised how many technicalities can be utilized in order to suppress evidence or get charges dropped.
Of course, this is all just speculation on my part. I don't know what went on and, so far as I know, details haven't been revealed. I'm personally hoping that Hardy takes a plea in which part of the plea does entail drug counseling and, maybe even rehab. I know he's a grown man and all that, but I just don't want to see another wrestling tragedy if it's something that can be avoided.