#2 A strong authority figure

The WWE, or for that matter professional wrestling as a whole, has for long witnessed authority figures play a pivotal role in the way a given storyline progresses. That said, in recent years, the WWE has experienced a dearth of believable, strong authority figures on both Monday Night RAW as well as SmackDown Live.
Intriguingly though, the NXT brand boasts a credible, strong-willed and gutsy authority figure in William Regal, whereas the main roster has for long lacked a notable on-screen personality whom the fans could see run the RAW/SmackDown administration with an iron fist. Well, RAW does have Stephanie McMahon, while SmackDown is led by Shane McMahon, however, neither brand currently has even a halfway-decent authority figure not named McMahon.
This is where Hulk Hogan can come in, and truly make an impact as an authority figure who won't be intimidated by Stephanie -- unlike Kurt Angle or "Constable" Corbin -- and instead, give the WWE Universe what they want. There's indeed a high probability that we may get to see The Hulkster as the RAW General Manager sooner rather than later...