My Rating

If I were to watch this match on mute with no knowledge of its context, my rating would be a firm 2/10, not much more than a standard television match from this period.
However, as an artefact of professional wrestling, and as a demonstration of effective character work making a storyline, as opposed to the story's shock value, this match is perfection. It's everything the "sport" is supposed to be: drama, emotion, tension, and an "oh my god!" release when the underdog finally wins the big one.
Cody has no chance against John Cena? Details HERE

WWE, throughout much of its territory, was a "babyface territory," where the booking was focused on a good guy champion attempting to retain his championship against a murderer's row of monstrous challengers (i.e. Hogan's 1984-1993 run).
In this time period, the company began experimenting more with an NWA-influenced "heel territory" booking, because the territory really did belong to the business's biggest heel: McMahon himself. Like Flair taking the popularity of men like Dusty, Sting, and Steamboat into the stratosphere years earlier, the Mr. McMahon persona gives this match and Foley's win a Midas touch like no other.
Credit this to Vince Russo's storytelling all you want, but it's really the payoff of tremendous investment in character by a much more important Vince.
Again, as a wrestling match, I'd go 2/10, but as professional wrestling, I'd go the full monty and give this 10/10.
Meltzer Says:
I can't, for the life of me, find Meltzer's ratings for this one, but it's safe to say he found it more palatable than WCW's one-move "Fingerpoke of Doom" that aired simultaneously, wherein Hogan poked Nash in the chest for the three-count, the NWO reunion, and the WCW Championship (and all the subsequent mediocrity it garnered).