No, he is not.
I can not, for the life of me, see how somebody can complain about Cena on one end and praise Hogan on the other. It boggles my mind.
I've seen Hogan "even in Japan" (as people like to say) and I was still not impressed in the least. Hogan was big and had charisma. Period. That's it. No in ring prowess, no agility, nothing but arms, height, a loud voice, a good gimmick w/nice catchphrases, and smiles and wild eyes. Oh. And a moustache.
Cena is a much better performer and all around package. He's ripped and beastly, yet he can perform aerial moves and work like nobody's business. He sells a hell of a lot better, and takes punishment much more believably than the "Ah, ah, ah" and head bobbing Hogan did.
But we're not here to compare, I just had to get that off my chest. Cena is, undoubtedly, one of the rare, true greats to come along in a very long time. If you haven't, check out dvd 1 of his My Life set. I've had it about a year and didn't watch it until the other day. You just see the determination this kid had in him and will to succeed. (Funny side note. In the video you hear them talking about the 5 knuckle shuffle, how it came about, and how it was just added for spectacle. They then mention others that had things like that and immediately showed a clip of the People's elbow. lol Cena haters and Rock lovers, take note. The People's elbow was just as ridiculous, if not more than, the 5 knuckle shuffle. And if you're still not convinced, I'll bet a lot of you even marked out for the Worm...)
And he did it with a smile on his face and a positive attitude. Maybe that's it, maybe he's TOO decent of a person. That kind of thing invokes rabid jealousy. He hasn't had people coming out to air any "personal demons" besides the fact that he worked out too hard sometimes. The worst thing mentioned about him is that he's a hard worker? Oh, shit. Good thing WWE is footing those rehab bills for everyone now...
He genuinely loves the business AND the fans. He is genuine in his interaction, you can see it in vids and clips. You can see it in his eyes, tell it in his expressions. Not a lot of people shine through while being in character. (Hogan and Michaels were two off the top of my head. Their backstage attitude was told to be a lot different than how they came across onscreen.)
For somebody to love what he does for so long and still have that same amount of energy and dedication as when he first started is a testament. (See also: Kurt Angle) How many have gotten to the top and "took it easy" from there? How many have shown that it's went to their heads? You don't see that in Cena. I'm sure that he's grown and adjusted to his success, but you don't hear of him throwing fits, playing backstage politics like it's a game of Stratego, turning into a money/glory hound, or getting wrapped up in drugs/alcohol. Just sayin'.
I think that maybe he's too good for his own good. In society today, from a psychological standpoint, I honestly think that maybe he's seen as "not controversial enough". People seem to like to bitch and/or feed on drama these days. They want a reason to rip somebody so they can feel superior, or make fun of, or to vent and write about. From celebrities to politics to personal, everyday life, it seems like people enjoy tearing things apart these days. Maybe it's because he doesn't give them enough fodder to occupy their time so they have to criticize and find something, anything.
I personally don't like rap. I don't like drama. I have liked gimmicks that are nothing but comedy, non-serious things (Shark Boy, Eric Young, Santino). I've liked guys that don't work super great but have had decent charisma (Sandman and New Jack for instance). I've liked guys that were great in the ring but just lacked something to catch on in the mainstream (Ultimo Dragon, Lance Storm, Jerry Lynn, Vampiro). I've even liked guys that could have been something but wasn't for whatever reason (Saturn, Shane Douglas). So I don't just like "mainstream" guys. But Cena, to me, is a class act all around, can work his ass off in the ring, keeps his energy and positive attitude, and brings something to the table that doesn't come around all that often.
And I think that "something" is that he's real. Real, but not easy fodder for gossip or capitalizing on somebody else's drama.
Edit: Just saw the vid above me. Kurt's right about one thing. TNA does have more solid wrestlers on their roster. The problem is with the booking and utilizing of said talent. They could be exploding right now, given the right format, the right angles, the proper amount of exposure to certain people. I know you can't have everything, but it needs to change drastically.
Keep the legends in the back and use them in extremely limited fashion on screen (or get rid of 99% of them altogether). Start building young talent now while they have these veterans to help teach them. Put them in simpler storylines, with maybe one or two "more complex" storylines for the dramatic, entertainment aspect. You could easily have 2 shows with their roster and talent. But you still have to produce quality programming.
WWE still does that for the most part. It may seem a little "vanilla" but it flows, and it's not overly convoluted. And stories are given time to develop, build, and climax. It's like reading a book. You have to give it time to build up before the climax, declining action, and/or resolution. TNA can't achieve that if they have a "spot monkey booker" at the reigns.