Yes, as 98% of the audience ponders.."Why is FAAROOQ up there?"
Well hell, 98 percent of the audience is going to be wondering who the hell this Bill Watts guy is anyway.
This 98% of the audience would probably see the retrospective video explaining who Watts is and hear Ron say "Watts helped me become the first black world champion" if he did induct him, but since he's fired and JR isn't inducting Austin, it seems to be inconsequential. Also, bully for Flair coming back, if only for the weekend. They have video of him reviewing The Wrestler on WWE.com today. It sounds like he's making an appearance at Mania, too.