His ring skills are pretty awesome for somebody as green as him, he's a natural talent. I judge him at face value, he's been put in a limited role and has been great at it with the little things to make his position in The Shield standout which are his mannerisms, his movements, his roar and his presence. Other wrestlers need to try pretty hard to come across as badass whereas with him it just happens to click naturally. He also seems to be very charismatic, his body language screams leader, leader of The Shield in this case.
That said he's still obviously a green guy, but because Dean Ambrose and Seth Rollins compliment him so much and vice versa with everybody excelling at something else (Reigns: Charisma, Ambrose: Mic Skills, Rollins: Ring Skills) he seems already more of a big shot to many than he actually is, I can't blame those guys either. Together they're pretty much the total package, their promos are great, the matches are great and the rest is up to creative.
Marks for Austin Aries/D Bryan crew
Potential to get better in the ring and on the mic, good look, good size, natural charisma right there. He's a better option to push than Ryback, already being as good a talker and wrestler with just a third of the experience.
I dunno, I've liked him since he was Leakee on FCW so I was glad he got the Shield spot and the push he's getting now. It came out of nowhere since his NXT work started pretty late and he had a very different gimmick. For me it's just a gut liking. You can't deny there's potential to be a big star there though.
Reigns is impressive considering his limited experience. Reigns has been great in matches but when you consider he has been in the ring with guys like Bryan, Rhodes, Goldust, Kane, Orton and having Ambrose and Rollins to cover his weaknesses, he is bound to look good. Until i see him on his own in a decent length match, i will reserve my judgment until then. Survivor Series was a good start he was awesome at SS. He has the look of a guy that you wouldn't want to mess with because he could kill you, i think that is where alot of the hype is coming from.
__________________ Not removing until...
Started on April 28th 2013.
The Shield win a championship [x] May 19th Extreme Rules.
Dolph Ziggler turns face [x] June 16th Payback.
Daniel Bryan wins WWE title [x] August 18th Summerslam.
Kassius Ohno debuts 
Yeah, this could be here for a while!
It's pretty funny how people are on the Reigns bandwagon. The Reigns hype is a product of one of the very few good things the WWE is doing these days. They are hiding his weaknesses (no mic skills, weak singles competitor) by having Rollins and Ambrose carry him in matches and promos and allowing Reigns to just spear people and look cool. It's classic Heyman booking strategy and I wouldn't be surprised to see if he had some input on it.
Reigns has the look and the size there is no doubt about it. If he can develop the mic skills and be able to wrestle in an entertaining way for more than 10 second intervals he will be huge. It's imperative that they don't rush the push though. He still has at least two more years of development before he'll be ready.
I don't get the hype either. It comes down to look, 100%. And even then, it's mostly the black armor he wears. He has some charisma, some presence and looks like a beast when he wrestles but look at someone like Big E Langston, who is a better wrestler, a better talker, and has charisma and presence in abundance. Why isn't Langston as hype on here? His look. Reigns has the better look and that's pretty much what it comes down to.
Shame to see how much Reigns has eclipsed guys like Langston and Ambrose (on the Internet) who I think are much, much more valuable and better overall talents.