Shouldn't be in the Hall: Theodore Long
Teddy Long worked as a referee for the first half of his career, then transitioned into management when he executed a lightning-fast three count on the Road Warriors and cost them the tag titles.
Long managed Doom, most notably, the tag team consisting of Butch Reed and Farooq/Ron Simmons. He was also the on-screen general manager for Smackdown for several years, but failed to really impress during his tenure.
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Why Teddy Long is in the HOF when genius referees like Tommy Young are not is unfathomable. While Long wasn't bad in any of his roles, he really wasn't outstanding either, and his induction seems motivated by favoritism more than any lasting impact he had on the sport.