#2 Turn him heel and book one-off encounters with next-generation stars
Matt Hardy is undoubtedly one of the most loved Superstars on RAW today. And it is almost criminal to have someone like him on the roster and not use him for establishing the stars of tomorrow.
As the veteran of the pro-wrestling business, Matt has the potential to engage in encounters that will eventually benefit his opponents. The right way to go about it is to have him turn heel. Irrespective of his side in any given story, the fans are bound to back him up.
Hence, WWE must turn him heel which alone will be enough to keep the crowd buzzing. Following that, the Creative can have him engage in short feuds or even one-off encounters against upcoming stars so that the latter can prove their mettle in a battle against the company legend.
Even if Matt picks the win, it will allow enough opportunity for his opponents to impress the WWE Universe. And who knows, maybe one of these bookings will end up scripting an unforgettable rivalry.