I wear WWE merchandise proudly, as any fan should. If you really like something then who cares what others think? Several of John Cena's shirts are part of my collection and I even dressed up as him for Halloween a couple of years ago at an event for my college. I had his Attitude Adjustment shirt, a pair of jean shorts, buzzed my hair, and a WWE Championship replica. Granted a few rude people told me wrestling is stupid but I got a lot of positive feedback too and it was a lot of fun.
The same thing happens if I wear those shirts in public on regular days. There's always going to be a mixed reaction. I always tell other fans wearing merchandise "cool shirt!" or something, it makes my day if someone does it to me and it always makes them smile too. I saw a guy in a CM Punk shirt just a week ago at WalMart and he ended up stopping to talk to me for a few minutes about Johnny VS Cena after I told him he had a cool shirt. I also told him to come check our forums out.
There's rude people out there who will tell you it's stupid but for every one of them you have to deal with, there's others who are fans too that think the merchandise is cool. It's something we as fans have in common, thus a way to make a new friend. As for the logo, it does not matter. A shirt is a shirt and having a little W on it should not make a difference in whether you will wear it or not because it's just a shirt. If you're a fan and proud of it, wear the shirt. I will never be afraid to wear my Cena shirts and neither should any of you.