Yeah IMO the Monday Night Wars are essential to TNA. As they believe that they have the greater product they should want the war.
It might take time but logic says if you are on the same night and you take 100 fans from WWE thats a 200 fan swing. So you grow and your competition loses viewers.
If you do that on another night you might gain 100 fans but those same 100 will also watch WWE which does nothing for you. Plus you can't measure progress.
Obviously this is all based on the premise that you have the better product and eventully the people will see that. If you don't deliver then the more established company could make you look very stupid.