Well there's a few factors for one thing. First of all... over exposure.... every single week spouting the same catch phrases doing the same thing. Keep in mind, Hogan wasn't on t.v. every single week as a main fixture in the show. Maybe he was on superstars in those promo shots for house shows or whatever, but you get my drift. Week in, week out, Rock was there.
Also, he left for Hollywood for a hiatus, came back, won the championship, and most of the fans knew he was kind of on his way out, and he was ALREADY over exposed at that point, and fans kind of wanted something different from him. Thus, Hollywood Rock was born and he was awesome.
It wasn't wins/losses. You're trying to make your own narrative here, and it just doesn't add up.
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