I personally like the fan-made reputation he has for being someone who tries hard and keeps failing/being rejected due to no fault of his own. There's an extremely artistic video called 'Nothing's Working Out - Waluigi' on YouTube that I really enjoy (warning: very heavy themes) that covers that base.

I think it resonates with the way that a lot of people are feeling now, as well as is empowering by rewriting the other side of the 'greedy evil bad guy who gets what he deserves' as a deeply flawed, desperate human being.

Definitely a semi-side tangent at this point, I have always enjoyed creative, deep reinterpretations of well-established characters.