I have to agree with you that I'm not a fan of the fake name scenario. To be fair, though, some of the people in the past didn't use their real names and it worked out perfectly fine.
Evan Bourne was brought up. His real name is Matthew Korklan. Sounds weird, Korklan. Matt Kork sounds weird too. Sydal was just a made up name. They could've kept "Matt Sydal", but then they wouldn't be able to make those puns like "Air-Bourne".
Colt Cabana. His real name is Scott Colton. "Scotty Goldman" is close enough. Sure, "Scotty Colton" would've been better, but its not too much of a stretch.
Ryan Braddock's real name is Brad Bradley. Man, his parents must be assholes to do that lol. That's like naming your kid John Johnson. Besides, this guy isn't going to last long at all anyway, so who cares?
Primo Colon. Now that one I think is ******ed. Apparently they're building this guy as the new Chavo Guerrero. Look at him. He's overshadowed by a family member (Eddie Guerrero/Carlito), he doesn't use his real name (Salvador Guerrero/Eddie Colon), he's Hispanic, he wears the same tights pretty much, has the same flimsy moveset it appears, and he's less talented than the one that is overshadowing him lol. They could've went with Eddie Colon, but meh, again, who really cares?
Braden Walker/Chris Harris. Didn't make much of a difference. He's gone.
Ricky Ortiz. Well, his real name is Richard Young. Better to call him Ricky Ortiz than "Atlas DaBone", right?
Gavin Spears. Ronnie Arneill, right? If I were on the naming committee, I'd have let him use Ronnie Arneill, Ron Arneill, or at least Ronnie Spears.
I could go on and on. The point of my post was, yes, I think they should use their real names, but when you're testing out new talent as young as these guys are, you can change your mind in the future if you really want to. Eddie Colon can start calling himself Eddie and just say that "Primo" was a nickname he was given. Thus, being billed as Eddie "Primo" Colon, like John "Bradshaw" Layfield. Ricky Ortiz...he should just deal with it, since Hulk Hogan is really Terry Bollea, and he hasn't had a problem being called Hogan by everyone for decades lol.