I think this is being overblown.
First, if you (and this is a theoretical "you," I'm not addressing anyone in particular) dislike this story because you dislike professional athletes that are violent, you're romanticizing the past. There's countless stories of Bird, Ainge, Russell, etc., doing all sorts of dirty things. While these things were usually directed towards the opposition, I'd also contend that quite frankly we don't know what went on at a lot of these practices in the days before the internet, twitter, and cell phones.
Second, if you think that this is going to "hurt" the team, you're misjudging the character of these veterans. It'd be one thing if this happened on a young team like the Sixers, who then might start fighting when something goes wrong in the future. However, I don't see Ray and Paul starting to fight in practice because Von Wafer and Delonte West started the trend.
Finally, Von Wafer probably won't even be on the roster at the end of the year. There's no need to rush to any conclusion right now.