I honestly can say I don't follow either just because I never know what channels or times but from what little I do know from friends and the internet, I honestly can't see this being a bad thing. Like you said, it'll draw in some views, even from people like me, because people have at least heard of him.
I'd imagine for his first few fights, he'll probably lose, but it won't be a total ass-kicking. He's been training and isn't actually going to do it until probably July, or make his official debut then. Hopefully they'll throw him into fights before the big televised one (which I bet they'll do). Besides, I imagine you need SOME skill to do WWE