I believe it absolutely would.
You have go break down the dynamic (we will choose Batman for the example) and in the end they go hand in hand.. Batman is a human who uses his head to defeat "super" powers and an insane list of bad guys/situations. Many quicker, stronger, has some type of advantage over him. People can relate to this, making him popular (give him the added bells and whistles of a sleek and favorable costume, an arsenal of fun gadgets, and excellent martial arts prowess) people want to see more and more of him... Now a character with all the above cant sustain alone, he needs drama, he needs enemies (Superman's downfall)..as you had mentioned, his top rogues are only worth it and arguably number 4-5, but those 4-5 are SO great and interact with Batman SO well that it just boosts the secondary rogues ad they compliment one another, in turn making them more formidable. (Not to mention his 4-5 top rogues are better than MANY characters entire rogues gallery)
Now add together ALL the above and you get an equation that makes people want more and more, which propels Batman into the limelight and mass media outlet. In turn bringing in more fans and visibility. Batman did not luck out.. He has all the pieces to be where he is, his rogues have a big part to play in this success.
Heroes usually have someone of equal or greater power, they ALL have people quicker, stronger, and have some advantage over them. Batman is not a special exception, this happens for everyone. Just because he has no powers and is winning over people with powers doesn't make it any more or less impressive than Aquaman taking down literal Gods.
Superman was the most popular hero for decades even with "no relateability", Spider-man is relatable because Peter Parker is an "every man", Green Arrow and Question are relatable but not popular. Just having no powers or having a bunch of powers isn't what dictates popularity, it's how interesting the character is to the person. Wolverine is insanely popular and he's basically an immortal that no one can relate to.
Superman's Downfall is he has no villains? Really? Like....I don't even know how to respond to this. Lex, Brainiac, Parasite, Doomsday, like, it goes on. Supes has villains even if people in the mainstream doesn't know them.
"SO great"? Name them. I give you Joker and Scarecrow. Possibly Two-Face. Who else? BTW, no one beyond Joker and Scarecrow should be in people's top 10 villains because Batman's villains are not great.
Any villain worth their salt has great interaction with their hero and there are lesser villains/heroes with better interaction than Batman and his rogues.
Formidable? ANYONE can be formidable with the right plan.
Batman has had SEVERAL chances to gain popular attention whereas others haven't. Green Arrow is getting a shot and people are loving it, all people need are shots in mainstream and it can blossom into something great. Batman is about to get his, like, 10th cartoon before Flash gets his, what, 1st? They're not even giving others a shot before Batman. Green Lantern is consistently around the top 20 in comic sales but he's getting nothing. Justice League is consistently top 10 but they're getting no new media beyond a movie 5 years from now.
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