Of course, you'd be excited to be going to the Obama inauguration. Even if you weren't playing. But Will Smith is attempting to turn 'not being asked to do Boom! Shake The Room' in Washington into a role in its own right:
"You know I thought about that, but I think I'm going to keep it a little more subdued than that. I'm just going to stand there and be an eyewitness to history."
You're going to watch, then, Will. Unless you're being invited in like a superannuated wedding guest to sign a register of some sort, you're watching. Unless there's a chance that after the event is over, and everyone has gone back home, the cops might swing through and say "hey - what happened here? Someone better call Will Smith to see if he saw anything...", you're in the audience.