I really like the idea of Ambrose having a signature match. Wrestling gimmick matches are all generally variations on a theme. You really only have three archetypes that everything boils down to: locked in a structure, foreign object, or alternate finish.
Foreign object matches consist of chairs, tables, ladders, bull ropes, chains, bats, barbed wire, straight jackets, fire, and many more.
Structure matches consist of any location wrestlers are locked in. Standard cage, Hell in a Cell, Elimination Chamber, etc. An argument could be made that a cage is really an extension of the foreign object match.
Alternate finish matches are any where the winner is determined by something other than pinfall. This includes but is not limited to escape in a cage match, first blood, victory on a pole, claiming the prize during a ladder match, four corners matches, etc.
There really isn't a whole lot of innovation over the years. Both Hell in a Cell and Elimination Chamber are just cage matches with an alternate structure and the escape win condition removed. Ladder matches are foreign object matches with an alternate victory condition.
The trick with Ambrose is to give him a match that is uniquely familiar. You don't want it to be too ludicrous as they're not filming a sequel to Ready to Rumble. You want it to look like what people are used to seeing as a wrestling match, but at the same time have a sense of individuality.
I don't think they quite got there with the black cage with and awkwardly hanging ouchy things really cuts it. Sure it's familiar, but it's not nearly unique enough. I want to wait until after the execution of the match before casting full judgement. I don't think it will be Punjabi prison match bad as some people are suggesting based on the underwhelming gimmick.
Personally, I would have brought back the classic blue bars WWF cage. Give that a coat of paint and it would have been a throw back. The bars are evocative of an asylum, more so than a cage. I would have done the weapons differently, perhaps limiting it to straight jackets.
I question the need for this match as Ambrose's win was fairly definitive. Does anyone really think Jericho should win? He could win, but Ambrose ought to be building momentum, not going .500 with Y2J.
The Asylum match is going to need some refinement if it's going to stick around. It needs to be more than Ambrose in a cage match + weapons, but it may wind up being just that. Maybe they'll do something different, but it's doubtful. Old ideas in a new dressing have the potential to be good, but it's not a very exciting or innovative variation on existing ideas.