Hero is pure Hollywood, and is the very best of what Hollywood means, or meant at the time. The plot is clever, the writing is witty, the characters are interesting, and the acting is decent (Dustin Hoffman is great). The development is not meant to expose new subtleties of human emotion, but rather strongly to evoke obvious ones -- in this case, pride. In other words, it is meant to make you happy. That is not to say that the audience is barraged with heavy-handed judgments, merely that it does not require a degree in theater to like the film. It is interesting enough to be enjoyable after several viewings, but not subtle enough to require serious study.
Hero is perfect for the intelligent moviegoer who wants to watch a film for fun, and that is the context in which it should be understood. Personally I find this a very good satire, that has actually a good point. In their search for sensational, touching news, TV stations will do really everything and seem to forget that the most important thing is still reality. If you are looking for a good comedy, with some fine acting and a good story, than this movie is really something you should try.