He's the heel every snivelling coward/obnoxious douche aims to be. He just had to speak and people wanted him to be murdered before their eyes. It didn't matter whether he was made to look great or the biggest pussy on the planet, the man's mannerisms, personality and voice just made everyone hate him and allowed him to make an angle based around wrestling women feel less ridiculous than it had any right to be.
The fact he and Lawler managed to work as many people into believing it was real and took a regional feud onto Late night with Letterman and made the feud mainstream in under 10 minutes just speaks volumes about its greatness. And of course, THAT SLAP.
Long Live Kaufman!!!