Off the field, he is, and I reckon that shouldn't be overlooked. As much as I think Rooney is shit (relatively speaking of course), I do kind of understand his last two contracts. Timing is everything, and Stretford has done brilliantly by him.
During the whole 'he wants to go to City' saga, as a club, we were under threat. We had just sold Ronaldo, and brought in the likes of Valencia, Obertan etc - players at least a few brackets below Ronaldo. Rooney then went on to have his best season ever. He was then, the undisputed star in the team, and as a club, we were under pressure to put on a show of strength and show that we were still the same draw. The message that losing Rooney at that point would have sent would have been one of real weakness. We can't attract the best, and we can't hold on to our best. City were just emerging, and Rooney going there would have been too big off the field. It just so happened that his contract was up for review at the perfect time. A couple of years before, Ronaldo would have been here, and his chipswould not have been as high.
In the time that followed, we again signed a better attacking player than Rooney (Persie), and he went on to win the league for us. Fergie was in charge, and Rooney's influence on the team lessening. Again, if the timing were a bit different, Rooney would have held far less chips in renegotiation, as shown by the fact that he was almost out the door. However, fast forward a bit, and the club's image/reputation was again under pressure. Fergie had gone, and everone was waiting to see if the wheels would fall off. Moyes came in, and was shite. People were writing articles again about whether we could not only attract the best players, but even hold on to ours, especially if we didn't make the CL. Again, conveniently, Rooney's contract was up for renewal at a point where it would have sent far too negative a message off the field to lose our most recognisable name. It would have frther underlined the fears about us crumbling, and the club had to keep him, for stability's sake if nothing else. He was in a position once again to dictate his terms, despite the fact that around those two contracts, he had been often underwhelming.