Would a Hogan vs. Austin feud really have worked well?
By the time Hogan returned to WWE Austin was close to retirement and Rock was a safer bet. Plus, would Austin and Hogan even have that good of a chemistry? And ofc, the finish would have been hard to decide. Neither man would be willing put the other over. It would be a clash of egos.
In Raw Homecoming in 2005 Hogan teased a possible match with Austin and at the WWE HOF in 2006 Austin said he saw an open can of whoopass with Hogan's name on it. I'm not sure the match would have worked in 2005-2007, even if Austin had been medically cleared to wrestle again.
I think this feud and match just wasn't meant to be, honestly. The best year for it would have been like late 1998-early 1999 or so when Austin was in his prime, but Hogan was in WCW at the time still. Or maybe during the invasion angle, but WWE didn't sign those WCW stars that were still under AOL's contracts like Hogan, Nash, Hall, Goldberg, etc.