I don't understand why the real Michael Jordan doesn't have much to say in each episode. I'm guessing that he didn't get paid enough for his time. Bo Jackson and Wayne Gretzky at least seem into it, especially since they take the time to answer questions by viewers after each show.
On the whole, the show is not a total waste of time. It's just like any other hero cartoon. You've got the fearless leader (Jordan), the muscle bound dude (Jackson), and the comedy relief, who for some reason always wants to eat. (Gretzky)
Together they fight for little kids and the environment.