It wasn't just Hogan that got a monster push and was kept on top for a long time. The legendary Honky Tonk Man held the Intercontinental Title for 18 months straight, even though if anything he was worse than Hogan. The reason? The fans truly hated him, and paid money to hopefully see him get destroyed. That's a great heel.
Razor Ramon revolutionised wrestling much more than he's given credit for. And not all for the better. He, if not invented, certainly popularised the "cool heel" persona and made it cool for the audience to cheer the heel rather than boo him. Now, audiences identify better with the heels, as they're cooler, rather than with the faces.
As much as I loved Hollywood Rock, he was essentially just a face that acted arrogantly and paid out on the audience. He wasn't a heel.
Hogan was a very limited worker, but he looked great, he had a ton of charisma, the WWF style was nowhere near as challenging as the NWA (which is also why even at his peak Hogan couldn't draw a dime in the Carolinas), his matches were kept short, and he won clean every time. It's not that hard to do, it's just promoters don't have the patience or vision to do it now. A big reason why I don't watch anymore.
That's why I've got a lot of time for ECW. They weren't shy in building a feud and really stoking the fire for 6-12 months before the eventual payoff.
Go and watch that first Sabu vs. Tazz match. The crowd is rabid (even more so than a typical ECW crowd ) because the build was huge. Dreamer and Raven went at it for THREE years as well.
The closest I can think of in the WWE in the past decade was Austin and Angle feuding for the WWF belt during the invasion angle and Austin getting himself intentionally disqualified at two (maybe three) consecutive PPVs. The heat for Austin was immense and everyone was behind Angle. He was one of the most over faces in the company. Too bad they squandered that by having him illogically join the Alliance and then, in the main match, rejoin the WWF.