I don't mind HHH on the show if he's in an interesting angle. Something this could end up being if it helps put Curtis Axel over.
First off, despite the criticism of HHH's backstage politics and burying of talent, let's not act like HHH does NOTHING but squash younger talent. This ain't 2002 or 2003 when Triple H still had a lot of years left and thus still had something to gain by holding guys down who could be a threat to his spot. This is 2013 when HHH is all but retired and already more interested in the business side of things than the ring side of it. And he's made and put over stars in the past. Two of the biggest stars of the past decade - Batista and Randy Orton - got a huge boost to their career because of their association (and in Batista's case, a red hot feud) with Triple H. He helped put John Cena over huge, too. A lot of people didn't really see Cena as a top tier guy until it was Triple H who put him over. Reports say Triple H likes 'Curtis Axel' and thus the only reason I can see for doing this program is to help Curtis off to a big start.
The way it could play out if they do it like I think they should - Triple H's hatred of Heyman (he has arguably hated Heyman just as much as Brock since last year) won't allow him to just give it up and he'll be content on taking out Axel, as a way of waking him up and perhaps getting him away from the grasp of Heyman if not anything else. It'd be nice if HHH took him a little more serious given he knows and respects who his father is. His dismissal of him on Raw could simply be because of seeing him as a Heyman stooge due to willingly associating himself with him and that slap he gave him to the face could be seen as trying to give him a wake up call. When Axel and Heyman continue to challenge HHH though, he doesn't listen to Vince/Steph to never wrestle again (at least not for a long time) and fights Axel at Payback, and his concussion flares up again, only this time Axel inflicts further damage while he's fainting and does all this while Heyman laughs maniacally. HHH is wheeled off or something after Axel does quite the number on him, and that's the last we see of him for a long time. Meanwhile, Axel and Heyman absorb all the credit for finally putting HHH out for good, finishing what Brock started at Extreme Rules.