The Hall of Fame shouldnt be used in the first 2 months of the game.
Secondly, use the suggestions formula
Third, IMO the HoF should be used for notable players in game who have "retired" from the game.
Why not this early. Its then you can see who did a specific thing first.
Some suggestions dont fit into that formula. It doesnt affect the game exept for that you can see some names up there which causes different reactions from all players no matter how good or bad they are.
And players that good usually dont retire and who decides who are good enough to fit in there? Sir Emi is very busy and he dont care much for how good the players are. Just what they suggest and, in certain times, what they are doing. (Like exploiting bugs and crashing secret servers.)