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Before Rikishi came along, Brian Lawler and Scott Taylor were known as Too Much/Too Cool and these two chumps were heels who got "Go Away Heat" with the audience.
It wasn't until Rikishi joined the group that Too Cool gained credibility as fan favorites. And just like that, Too Cool became key players for the year 2000.
But once Rikishi started branching out on his own as a singles heel and while he would stay on WWE for longer, Too Cool imploded due to Brian Lawler's substance abuse issues that led to him getting fired from the WWF in 2001.
As for Rikishi not acknowledging Too Cool in his HOF speech, he has every right to not want to thank them, especially when Rikishi was the one who saved these two from getting anymore "Go Away Heat" reactions, and especially when they (mainly Lawler) tried to steal his money. There's a reason why WWE didn't want Rikishi to acknowledge Too Cool, it's because of Brian Lawler being a trainwreck from 2001 up until 2018.