I can totally see where you're coming from because, as a big fan of Hurricane/Gregory Helms, I was very impressed with his year long plus title reign and the cocky heel character he portrayed so well. He had many fun multi-man title defenses, an interesting feud with Matt Hardy and was moving towards a US title program before his injury. But the thing is, this all happened after the Hurricane was around, after Helms was an established superstar.
If Helms had come straight into the WWE as the cocky heel, he might have just got lost in the shuffle. Helms played it well but the cocky heel is a common character in wrestling and it might not have got him noticed. On the other hand, The Hurricane definately got him noticed. OK, it was cartoonish but it was different and the fans mostly loved it. He got good pops more often than not and there were always a bunch of people, both kids and adults, with Hurricane signs and t-shirts.
The point being The Hurricane was the starting place and when it was time for a real push, he dropped the superhero gimmick and became the cocky, brash Gregory Helms. Personally, I think it worked and was done pretty well, apart from his inexplicable loss to Lawler at, I believe, NYR 2006. At the end of the day you could be right. He could have started out as the cocky heel as rose to the top, but I'm not too dissapointed with how it was done. I'm just dissapointed with how The Hurricane is being used now, as I think Helms should be continuing with his heel character.