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He didn't like Vince in his ear.
Also, if they were going to go old school with a commentator, they'd bring JR back.
I think they are over the days of Heyman, Tazz, and Foley commentating.
WWE is more of a business now and media savvy so they are less inclined to bring in guys like Lawleresque personas.
They want young blood to create a persona around and to be the companys announcer for 10 years down the road, etc.
I do see Foley coming back as Mankind or Cactus Jack since we are missing the crazy but funny type of character in WWE.
He could even be a Raw GM or Smackdown GM someday.
It'll be interesting to see, but like Angle n others, I see him returning eventually.
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