I understand what you mean, but I don't think I would ever describe WWF/WWE as "decent American values". Trust me, that is not what they were going for. (and it comes way to close to the dreaded term "family values", which is laughably ridiculous)
RIP Macho Man. I recognize the difference between a "bad guy" character and a real "bad guy". There is nothing to imply that he was anything like his annoying, hate inspiring character. In fact, I would say that being a "bad guy" in those days of Wrestling required more talent, most people are basically nice, it takes some skills to be percieved as something different if you arent.