To be honest, I'm not too happy about it. It's nothing against Edge, Edge is clearly a HOF wrestler and deserve it, but I'm gonna join the camp and say "it's too early."
Truth be told, I actually wouldn't even have a problem if Edge got inducted his first year, if Macho Man Randy Savage was in the HOF, or hopefully gets announced as the final inductee this year. While it seems odd that Edge is going in before Triple H, the Undertaker, Mick Foley, and the Rock, unfortunately that's the way their careers have turned out, as all Rock, Taker, and Triple H are still wrestling (though only on special occasions), and Foley could still wrestle of the opportunity presents itself, but Edge unfortunately cannot wrestle again. So while "it doesn't feel quite right" it does make sense.
However, it doesn't make sense for him to get in before Macho Man Randy Savage, this should've been his year.
Frankly when it was first announced Monday night, I was pretty mad honestly. But as I've had more time to think about it and more time to get more "wishful thinking" on my part lol, I'm hoping that maybe Macho Man will still go in this year after all. It makes perfect sense to have a strong, "headlining" inductee who can be there and provide a feel good moment to counter the depressing, sad moment we'll get with an induction for Macho Man Randy Savage, and Edge provides that role. If Macho Man does get inducted this year, I'd much rather him go in with Edge than the Rock. Because the Rock would clearly overshadow Macho Man, whereas Edge doesn't really (sorry to Edge fans, I'm an Edge fan myself, but Edge was never at the level of stardom or even greatness that Macho Man was in his prime). So I am still hoping that Macho Man will instead be the final inductee announced. The biggest inductees are usually the first and last announced. I'm hoping that's the case this year.
As for those that think it doesn't make sense for him to go in this year, apparently reports have come out that next year's Wrestlemania will not be in Toronto (nor Dallas, nor New Orleans, hopefully we'll get it in Indianapolis

), so WWE probably didn't want to wait 3-4 years to get Edge in (which makes good business sense), so if they're not gonna go to Toronto anytime soon, then why not induct him?
As for the Four Horsemen, that's awesome. The Four Horsemen as an entitity is one of the most important pieces of pro wresting history. This does set a highly interesting precedent though. Ric Flair will become the first person in the HOF's history to be inducted twice. Until this year, every inductee was inducted once. But Ric Flair changes that (it's fitting that Flair, arguably the greatest of all-time breaks this mold). This is pretty common in the Rock and Roll Hall of Fame as in addition to Michael Jackson who was already brought up, the likes of Paul McCartney, John Lennon, George Harrison, Eric Clapton, Jimmy Page, Neil Young, and this year, Rod Stewart and Ron Wood have been inducted multiple times. So this does set a precedent. Can tag teams like the Hart Foundation, and the Rockers, and groups like the 2nd Hart Foundation, the NWO, and D-Generation X get induted in the future. Bret Hart and Shawn Michaels are already in which didn't look good for Jim Neidhart and Marty Janetty never had HOF worthy singles careers, but the fact that now wrestlers can get inducted twice, hopefully inductions for the Hart Foundation and the Rockers can happen eventually. As far as which Horsemen get in, I think they picked the right group overall. Other than the Flair/Anderson/Blanchard/Windham group, the original group with Ole Anderson, or the second group with Lex Luger would be the only other groups I would say are worthy. Sid was a pretty prominent member in 1990/1991, but the Horsemen were about done at that point. Obviously Paul Roma isn't worthwhile. Neither is Steve McMichael. Dean Malenko, Brian Pillman, and of course Chris Benoit were good members, but the three are HOFers on their own and really weren't part of the definitive lineups of the group (like the original one and the third one with Barry Windham). And Ole Anderson would likely refuse an induction as he hates everyone like Bruno Sammartino, so he wouldn't show up likely anyway. Good choice here.
Of course Carlos Colon and Mil Mascaras I have no problem with whatsoever, as both are legends outside of America (Carlos Colon IS PRO WRESTING in Puerto Rico), and both further legitimize the WWE HOF as more than just simply a WWE HOF, but a legitimate pro wrestling HOF.
Now there are lots of rumors that Yokozuna is going. I have no problems with this whatsoever. He was one of the greats of the 1990's during the New Generation Era, and other than the Rock is the greatest Samoan wrestler of all-time. The Wild Samoans and Peter Maivia are in, the Rock will be in at some point, get Yoko in, and you've got all the worthy Samoans in.
That'll be five inductees leaving room perhaps for a female inductee, a celebrity inductee, or a tag team, though I think the Four Horsemen fit the "tag team spot" I don't really picture any female inductees getting the nod this year. Trish Stratus and Lita seem like the two most likely picks, but I wouldn't think they'd go for them already as Trish is still somewhat active, and Lita could be active if she chose to. Then again I wasn't expecting them to induct Edge so early, so who knows. And they may not induct a celebrity this year. There have been years where the WWE didn't have a celebrity inductee (2005, 2007, 2008, and I believe 2009), so maybe they'll skip out on the celebrities this year?
But if Yoko goes in with Edge, the Four Horsemen, Carlos Colon, and Mil Mascaras, and female or celebrity inductee, to me none of those are a "headlining act." Edge was one of the greats of his era, but I just can't picture him headlining a HOF class. This lineup to me is missing something. There has to be someone "bigger" in stature to headline. To me the only two choices are the Rock and Macho Man Randy Savage. I still have a feeling that the final inductee announced will be one of these two. I hope immensely it is Macho Man. We'll have to see. If neither are announced, I'm gonna be quite disappointed honestly, considering this will be the second HOF induction ceremony I will have attended (I also went to the one in Detroit in 2007).