^^somehow I doubt that. Look how many former WWE talents they have, Christian being one of the few they are actually using correctly, none of them have made the turn around for TNA yet. The ratings didn't change for christian, or the dudleys or even Angle which was considered the biggest jump in wrestling in years. So how would Jericho joining TNA be the thing that brings the ratings in to make them a level compeditor to WWE? It won't.
Despite TNA's poor booking right now the fact is TNA is still on the right track for the most part. Yeah they need two hours. They are doing 2 hour shows worth of stories (and some are decent fueds even if they don't make 100% scense, like since when were the Dudley's Italian?) but in a 1 hour time slot. If they can get there two hour time slot at the end of the year as planned they could start to draw some better ratings because the show won't be so crammed. Also they might be able to become a better touring company. TNA will never be recognized as a major compeditor of the WWE if they only take there show on the road for the ocational PPV.
Here is what TNA needs and its not more stars.
1) 2 hour time slot
2) a real tour schedule (ie PPV from somewhere different every month, and a normal week consiting of monday tape that weeks Impact, saturday house show, Sunday house show if no PPV) Thats only 150 dates a year aprox. Just make sure they actually tour for these and yeah start with the smaller venues they've been doing and as the crowds and ratings get batter for the Impact Tapings and PPV's start hitting the bigger venues.