NFL Hall of Famer Bruce Smith -- who played 4 seasons in Washington -- says a name change is "long overdue" ... and feels the team is finally on the right side of history.

OH, AND WE ALSO ASKED BRUCE ABOUT THAT "PENIS" INCIDENT ON "FAMILY FEUD"!

But first, the serious topic ... Smith wrapped up his legendary NFL career in Washington and understands the issues surrounding the team name ... but clearly felt the time is right for change.

"It's the right thing to do for many reasons," Smith tells TMZ Sports ... acknowledging the pressure from business partners like FedEx and Nike obviously played a key role.

"Money motivates all of us to be quite honest with you, but socially and being on the right side of history is another motivating factor. I think both of those are present in this decision today."

NOW THE "FAMILY FEUD" QUESTION!