But the point you have failed to mention is that along with Russio, Hogan and Bishoff were given creative control of TNA after they arrived, so the fact that Hogan's name as part of TNA has meant nothing actually is more down to him than the company, it has been them who have been shoving Hogan down the fans throat, and it has back fired. Fact is that Hogan's name maybe doesn't carry the same sort of drawing power it once did, and the fans certeinly don't want to see him pushed ahead of the main roster week in and week out.
Another thing is that you can't really say that the likes of Angle and Sting have not made a difference at all, clearly more people know of TNA, and have followed them as a result of those names being on board, and for a while at least the ratings did go up. The trouble is like you said when a promotion is so badly booked and promoted there is only so much those guys can do. But to sum up I would say that the likes of Angle and Gail Kim [just wanted to throw her name in there as she never gets her due] have or did add value to TNA, where as Hogan has not, and I agree 100% with Seaks post that it can only be a good thing to get rid of Hogan.