#2 To give him a fresh start
Bray Wyatt's career has been full of ups and downs. He has been in the main event spot with the spotlight on him, and also been left out of the entire card.
From a cult leader fighting with his stable, going solo and having a sub-par run with the world title, to an inconsistent tag-team performer, Wyatt has not shown consistency in his former gimmick.
To get started with a fresh new gimmick could do wonders for a superstar. The Rock and Steve Austin won't have reached the heights if they would have continued with their original gimmicks.
As ridiculous as it may seem for Bray Wyatt to be in such an avatar, we need to give the gimmick some time to grow. This could mark a watershed moment in Wyatt's career, setting him up to be taken seriously by the masses for the first time in a long time.
#1 Maybe It's all a ruse
Bray Wyatt has claimed that he has left his evil ways behind him, and will be the host of his own TV PG show. Even the vignettes of his scary dolls have turned out to be friendly.
Although, there might be something more than what meets the eyes. One can sense the sinister intentions inside Bray Wyatt's head when he mellows down his own portrait.
There's a chance that he might play a slightly inspired character of Doink the clown using his dolls, or he might get a full-blown heel character in the coming weeks.
WWE might try something new and might give him a split personality gimmick in which he would be balancing his old and new gimmicks.