This idea actually sounds crazy enough to work. Neither guy has really been doing anything for quite a while, so at least forming a tag team, with WWE treating tag team wrestling more importantly lately, is a step up from the mid-card purgatory they're in now.
I watched an interview on YouTube recently with both Dolph and Miz prior to the Royal Rumble with some Cleveland media. They did the interview together and actually have pretty good chemistry. If they can translate that onscreen, then this won't be so bad.
Plus, so many teams are breaking up right now, or are expected to break up (The Shield, The Brotherhood, The Real Americans). Also, the New Age Outlaws will likely be gone as regular talent after they lose the Tag Team titles, so the tag team division will be in need of some familiar faces as the top stars.