1) I don't know what you guys are talking about. He botched at first when he started off and I guess the Orton incident must be on everyone's mind, but he really hasn't botched since. And if you really think that was the case, Maffew from Botchamania would have a FIELD DAY with him, but that's not happening.
2) When Kofi has been allowed to speak, he's really not bad. They just DON'T LET HIM SPEAK. Hell, they kinda don't let Ziggler speak either. Hence, why Ziggler has Vicky Guerrero to keep him over. That's not to say that Ziggler isn't talented, but I think people wouldn't be as receptive as they are with him and Vicky.
3) Kofi is the Cena/Mysterio of the mid-card. Women like him, men like him, and kids love him. And that's why the haters...hate. I'm not a fan of Cena, at all. But those people that hate Kofi are the same ones that hate Cena and they make that association to fuel their hatred. So they create made up reasons that I have refuted in reasons 1 & 2.
4) Kofi is more of a "paper" champ than a "token." But it's because of WWE's failure to create new stars. People like Miz, Ziggler, Del Rio, Barrett needed to be elevated without beating a top-card performer. So Kofi fits the bill. If Del Rio beats Bourne, no one cares. If he beats Kofi, there's a bit more weight to it.
With all this said, despite all the pushing down that they've done to him, he's STILL remained over with both Smackdown AND Raw rosters. He's constantly speaking with people on tours. He was in a few of the commercials. He had a video showcasing him to the crowd again. He's had some really good matches recently. And he and Ziggler MADE that IC title relevant again. Really, do you even CARE that Barrett's IC champ right now?
Personally, with the Miz and Morrison hurt, and the lack of decent faces in the crowd, they HAVE to make new stars. Don't be surprised (especially since heels have won most of the recent MiTB matches) that he wins MiTB and gets some adequate mic time. Hell, I hope they push Ziggler as well, he actually has a rival, a key component to main event status.