Capt Charisma and Shockmaster, both of you make very valid arguments as to why Cena shouldn't be WWE champ. And, even as a Cena fan, I agree. There are better options, although the number of available options is dwindling a bit due to injuries the main event level stars. But the arguments for Cena not being the champ don't necessarily translate to reasons to hate him. For the sake of discussion, let's look at some of your points from that perspective..
The bottomline on Cena, he works hard, okay, I work hard, but should I be the poster boy for my job because I work hard. Just because I work hard doesn't mean I work the best out of everyone, so that is why I'm not the highest paid. I bust my ass everyday, but I recognize that people do my job better then me, and they are above me for that. Everyone works hard, so throw that arguement away.
Hard work does not a champion make. BUT, hard work should earn you respect. Shock, I have no idea what you do for a living, but I would assume that you busting your ass at the office (or wherever) should translate in your co-workers respecting the work that you do. And if you are in any type of industry where your work gives a direct benefit to people outside your company, I would think that you working hard for their benefit would lead them to respect you also. Same thing with Cena. Aside from that one, isolated report about Cena and Vince spending time together backstage, I haven't heard/read anything about Cena having heat from any other wrestler backstage. It strikes me as strange that he gets bashed by the fans, but not by the guys best qualified to evaluate his hard work and dedication
Cena outsells everyone, yes this is true, because over 50% of the items on Shopzone are Cena products, so do the math.
I'm not gonna go with numbers or anything, because I frankly don't care how much merch. someone can sell. The only thing I can say about this is that WWE is a business, and therefore subject to things like supply and demand. I don't think that they would make Cena products greater than half their stock unless there was a demand for them.
Cena hasn't invented a new catchphrase in what, 2 years, that is horrible for a guy that is supposed to be so damn good on the mic. And even the "Champ is Here" was stolen from Ali.
I don't think charism and catchphrases have a correlative relationship. For example, HBK is certainly a charismatic superstar, but when is the last time he's come up with a catchphrase? He cuts great promo's, but calling himself the "Heartbreak Kid" and the "Showstoppa" are certainly not new. Another example, Mr. Kennedy. Aside from his "Kennedy...Kennedy" and "fastest rising superstar" phrases, he just cuts good promos. he doesn't come up with new catch phrases left and right unless you are gonna count "BANK...bank" as a new one. And as for stealing "the Champ is here" from Ali... look at DX. both HHH and the NAO stole their shtick from the guy who used to work the big boxing fights (sorry I don't know the name).
And do Cena's storline keep you tuning in every week? quite frankly no.
That is the writers' fault. Are you gonna honestly tell me that if they hadn't revealed Khali as the guy who destroyed Edge, Orton, and HBK at the end of that week's Raw, but instead left it as a cliff-hanger and dangled the possibility that Cena had turned heel and done it himself that you wouldn't have tuned in the following week just to see whodunit? And what about his TLC match with Edge where if Cena had lost he would have gone to Smackdown...even if you were praying he lost and went to Smackdown, wasn't that at least an interesting enough storyline to follow? Or the entire lead-up to Mania with the tension between Cena and HBK?
The Undertakers 3rd title reign is the highest EVER in the history of Raw, averaging well over a 6.0, whereas Cena is lucky to average a 3.7. Undertaker doubled Cena
So I checked on WWE.com and it says that Undertaker's 3rd title reign lasted from 5-23-99 to 6-28-99. That's what? 5 shows? While that does show drawing power, it certainly isn't sustained drawing power. Plus, if we wanna pull out stats from that, it was Undertaker's 4th title reign that dropped ratings down into the 3's, from which they have only rarely gotten back into the 4's, no matter who the champ was. In fact, the only times the ratings have broken 4 for a reign was with either Cena being champ, or Edge and RVD as the champ and Cena in the title picture. Now before I get shot down in flames for stating this, it was the move to Spike TV that killed ratings and not a specific champion. It was only 'Takers bad luck to be the guy who had rating dip under 4, but the trend was going in that direction before he got the belt. The point is is that comparing the ratings pre- and post- Spike TV is a little bit misleading. Plus, Taker's 3rd run corresponded to a lot more interesting and better quality midcard action than any of Cena's title runs. For example, during Taker's 3rd run, you had a HHH/Rock and McMahon/Austin fued going on. I'm pretty sure that those contributed to the ratings successes. I also think its safe to say that there haven't really been "undercard" fueds of that quality all throughout Cena's title runs.. Bottom line is - ratings are midleading.