To me the MLB HoF is completely worthless at this point, no validity whatsoever. Not even worth talking about going forward.
I like talking about it just to see who has a shot to make it. I read a stat where something like 136 of the 341 HOFers were voted in by the BBWAA (40%) which does give me hope that some of these committees will rectify errors and get guys like McGriff, etc. in like they did with Gil Hodges, etc. When you think about the Cooperstown revenue, it also behooves the BBWAA/Committees to induct players for the tourist $$ and to legitimize/popularize the MLB HOF.
I think a large issue with the MLB HOF compared to say the NBA or NFL is that it often feels like the writers get emotional/petty/personal when voting compared to just letting the numbers on the field speak for themselves. Not helped by them being hypocritical in some of the guys they've put into the HOF suspected of PED use (Piazza/Bagwell/Pudge) recently why decrying Bonds/Clemens/Sosa/Sheffield/McGwire.
Here's a breakdown by decade thus far of the players they've voted in. I do think it's promising that the 2010s saw the most players voted in by a fairly healthy margin as the voting age starts to skew younger and those types of voters are more willing to fill in the ballot up to the maximum 10 names.
2020s: 1
2010s: 24
2000s: 17
1990s: 15
1980s: 18
1970s: 13