The TNA Hall of Fame always seemed to me like something Dixie created specifically to snub Jeff Jarrett. I mean, other than announcing the person at Slammiversary and calling them a Hall of Famer, there's nothing else to it. It was created around the time she was limiting what he did on screen and basically trying to erase him from the company. And then to not only add Sting and Kurt Angle (Angle himself said Jarrett should have been inducted before him and considering their history, that is quite the comment) instead of Jarrett and Styles took away any ounce of credibility this "Hall of Fame" could have had. Jeff Jarrett and AJ Styles are the two who gave the most to TNA in its fledgling days and should have been the first two in.
If AJ's declination is because of conflicts with NJPW, then that's understandable. I'd like to think it's on principle as well.