I think he's a decent actor with a great look and charisma, just a shame that he wasted the latter half of his prime, career-wise.
Biehn's "Seventh Sign" with Demi Moore and Jurgen Prochnow disproves the one-Hicks-pony argument.
The poor guy was suffering from a terrible disease - Alcoholism is really, really bad - especially if you're not a functioning alcoholic. "Normal" jobs enable people to be functioning alcoholics, but figure that you're an actor waiting for a role, you don't have to get up at 0600 or whatever - your free time is your drinking time. Also, a lot (if not all) of these deals are made over dinner / at a party. If you've got an issue controlling your drinking and act... badly... at such times, it will colour people's judgement. They don't know you have an illness after all - they just "know" that you're OTT drunk. If you're a producer and your potential lead gets hammered at your first or second meeting... you'll be thinking "can I trust this guy..? No, get me Paxton's number."
It's a tragic illness, made acceptable because alcohol - unlike weed or any other narcotic is (in the vast majority of places) easy to get hold of, cheap and legal.
He is a good actor. Maybe not a great one, but I strongly feel that some of the comments on here are way, way off.