This has the least to do with Wayne's personal talent, but simply put, the fact that his artists, Drake, Nicki Minaj, and to a lesser extent, Tyga, are all among the most successful in hip-hop does contribute to his "hotness."
Lil Wayne is handed the opportunity to be on platinum songs like "The Motto" and "Faded," and it's not just a favor. Let's be real: He brings a lot to those records. You might make fun of "almost drowned in the pussy so I swam to her butt" on Twitter, but you rap along to when you hear it. This could turn into a whole tangent about how Wayne's entire charm is that he raps inane things like that, but that's not the point. The point is: Even if Lil Wayne hate reached such a fever pitch that all of his solo work from this point forward wasn't well-received, you'd still be forced to contend with him because a number of his artists are popping.
Call it the "We Gon Be Alright If We Put Drake on Every Hook" Theory.