I've said this time and time again, and I will say it once more; after watching Bret Hart return to the WWE, and hug Shawn Michaels on Raw, I will never say never again. Anything is possible, including Jericho showing up in TNA.
Do I think it's likely? No, not really. Jericho has a good thing going in WWE, and I doubt he thinks he can get a better shot in TNA. He is a legend, and Hall of Famer in the WWE. However, if he were to go to TNA, I agree he be one of their two or three biggest stars, no question.
Jericho, from everything I've seen over the years, is all about quality. Jericho doesn't mind dropping down to the mid-card, turning heel, turning face, etc. He only wants what's best for his career, and what's best for the wrestling business. I highly doubt Jericho believes he could make a meaningful impact in TNA.
In my opinion, TNA could grab anyone they want (Jericho, Cena, Orton, Batista, etc.) and it wouldn't make a damn bit of difference. Why? Because TNA's talent-base isn't the problem. TNA's creative direction is the problem. They seem to be completely unable to book a coherent, quality storyline, and I doubt they could even use Jericho properly. As long as Russo, Bischoff and Hogan are around, I have no confidence in TNA's creative direction, and I would bet the freakin' house that Jericho feels the same way.
I'd let Chris Jericho express how he feels instead of just assuming how he feels. TNA is what it is, I don't expect it to get any better anytime soon but that's not from a standpoint of me thinking the product is horrible, I just don't think the wrestling audience of today really cares for any other TRUE choice in their product than WWE. Vince McMahon's plans at owning the industry were laid out perfectly the day he bought the company from his father.
He started by taking out most of the territories and whatever didn't get absorbed was retained by Verne Gagne, The Von Erichs or the Crockett Family, and even then WWF still basically owned the industry despite organizations like the AWA, WCCW and JCP/WCW still lasting for quite a respectable amount of time. The most impressive of those competitors being WCW as they were at least around into the early 2000s before the corporate changes at AOL Time Warner.
When Vince finally took WCW out of the equation and bought them, he pretty much established the product as we see it today, where you have WWE split up into RAW and Smackdown akin to the MLB's AL and NL and the NFL's AFC and NFC both governing bodies are owned by one single entity and that's how fans usually decide their allegiances (Hence why there's no other professional baseball organization like the MLB or football organization on the same level as the NFL, unless you want to count the XFL but we all know how that ended up.) That's why you have fans that may enjoy both but typically have a preference towards one for a certain reason as opposed to another. For instance many favor National League Baseball because they do not have a Designated Hitter and therefore the strategy of the game changes since a Pitcher must bat in a National League rules baseball game and as far as wrestling goes, people might like SmackDown over RAW since there is more of an emphasis on in ring action on the blue show and less camp with celebrity guest hosts and what not on the red show.
Therefore, I can't see Chris Jericho making a difference in TNA not out of lack of trying or the creative abilities of Russo, Hogan and Bischoff (All too often they get an inaccurate rap for incompetence, when Vince McMahon himself is nowhere near perfect). Don't get me wrong, I've watched a lot of crapiness occur in WCW at the helms of both Vince Russo and Eric Bischoff but I'm not going to join the let's blame them for everything bandwagon, because nothing could be further from the truth. I just think the audiences' identification with wrestling is completely WWE these days, for better or worse they are synonymous with the industry. And like "real" sports, Vince for the better part of a decade has made it where there is only room for one entity in that market. At least in my view, but to TNA's credit and despite your personal opinion on Russo, Hogan and Bischoff, TNA has remained a small but successful entity serving a niche market as opposed to WWE's audience which is broader and loyal to what is an established product.
While TNA might not be the most enjoyable product it is by far nowhere near the worst, just sit down and watch archives of TL Hopper, Duke Droese, and The Godwinns to get what I am saying. Also I find it pretty close minded on your part to completely dismiss TNA's coherence when WWE has completely forgotten about their tag team division and has made throwing together random single stars an artform these past few years. To TNA's credit they have not forgotten what the meaning of a tag team is. While obviously not something that's going to give TNA the bragging rights over WWE, for traditional fans the presence of teams like the Motor City Machine Guns , Beer Money, Inc. and Generation ME is a lot more enthralling for a tag team division than seeing the Hart Dynasty not be utilized and then dismantled. But I guess most people here on the internet forums dare not try to name any positive attributes TNA has and instead just want to play the hate on Hogan and Co. game. Obviously, if these men have the influence they have, I'd think Hogan and Bischoff would abuse such power and they'd have vetoed giving MCM the tag titles and lobbied to get the Nasty Boys back to win them.
But like I said, TNA I feel is in a business that can exist but will not compete, I see their run being very similar to Arena Football where you have a small and loyal following that does not threaten the NFL's existence but serves to please fans where the NFL can't. While I do feel guys like Hogan and Bischoff have overstated things and gone a little in over their head to the press about their hopes for TNA, we can at least say that for all its faults TNA is a product that's lasted and I think will continue to even with the controversial Hogan and Bischoff involved. Chris Jericho would a be nice addition, but I don't think there will be any mega surge in his arrival. WWE is just too damned familiar and even though I don't like the current product, Vince has made it impossible to compete simply because the new generation of fans know nothing else, and to his credit despite this not being the Hogan or Attitude Era anymore, Vince still delivers the gold standard of pro wrestling.
But to be fair to TNA while they don't have WWE's same level of quality in production values and brand familiarity, some young and exciting talent are still on the airwaves and wrestling. Say all you want about the vets supposedly holding them down, but these people are still being given jobs and national TV time. Which some of these aforementioned talents use to go to the next level in wrestling (i.e. guys like Lo-Ki.). I can't speak for Hogan or Bischoff much in the same way you can't speak for Chris Jericho although I noticed you tried, there might come a time where they realize that TNA can't be a WWE, but that doesn't mean they can't continue to contribute positively to the business. By comparison to their later WCW days, I see Hogan and Bischoff working a lot better with the young talent than the pundits ever gave them credit for years ago.
So while TNA may seem like a glorified farm league to WWE, that's not to say they are not good. And even if TNA were to not see any new heights but continue to at least still be around in the next couple years, or if they do end up folding, we can at least say one thing with confidence, Dixie Carter along with her subordinates has done a lot better in wrestling, than Vince McMahon ever did in football.