They aren't bad, but not great either. Personally I think they are way overrated. If they were as good as every cottage and hockey and beer loving Canadian says they are, they'd be big in the States, and the rest of the world too... Surely someone else out there would have caught on by now. But no one did. Now I know what your thinking, just because the States likes something doesn't mean its good, etc... But generally, our nations popular music tastes are the same, and Canada's best talent has been very successful all over North America. I know I know, good music doesn't have to be popular... And popular music is more often than not, not good... I think celebrating the Hip is celebrating mediocrity. Although I did like their video with the Trailer Park Boys and the chicken and Don Cherry.
The Hip are popular because Canadian radio has to play a set amount of Canadian content every hour. There is only so much, somewhat newer, Canadian rock music to go around. Hip music makes great quota filler.