While it is becoming less and less believable by the month, I believe Impact has the pieces and a roster to compete with WWE in ratings.
Hulk Hogan has been there for every wrestling promotion's rise in history. He was the centerpiece of the WWE and important in the rise of the WCW. While Hogan may not like this fact, his name is not big enough anymore to carry a company to power anymore, as he is too old now to be the centerpiece.
However, the roster has Sting, who at 52 is amazing for the work he is doing, and there is a roster full of (generally) young talent who can put up a big-time show.
WCW took off when they brought Hulk Hogan over, and he was followed soon after by Macho Man Randy Savage. They were able to take WWE products and grow big, and for an 88-week stretch, the WCW actually had higher ratings than the WWE.
That is an incredible accomplishment, mostly because, mind you, this was during the WWE Attitude era headlined by Stone Cold, Rock and HHH.
Now, the guys Impact have brought over from the WWE will not hurt them by any stretch, but they have the pieces to build on, as well as some homegrown talent to draw huge crowds in big arenas.