This. The Hall will mostly satisfy PS3 and PS4 players who don't have the ability to parse their damage output alone. I could imagine that perhaps a title could be attached to completing the Hall, but SE wouldn't risk it because, in their minds, players would demand a DPS to show their title before letting them run with them. Anything that could even remotely cause players to be excluded from content is frowned upon. That's the reason the elemental wheel (as well as other gameplay features) was done away with.
More likely than not, there'll just be an achievement tied to it, and that's all.