I am a huge Andre the Giant fan, and was certainly never a Hulkamaniac, but the statement that Andre had never been pinned is not exactly true. Andre wrestled all around the world and was pinned in Mexico, and actually lost a submission match in Japan. Of course, these were all outside the then WWF, so technically the storyline is true. Andre was a true legend and is beloved and missed to this day. However, one thing that is true is that Hogan was afraid that Andre might not keep his promise to lose. Vince McMahon said once that if Hogan had disredpected Andre, it probably would not have happened that way. Also, many don't know this, but Hogan actually body slammed Andre before. It was 1980 and Andre was much lighter and in better shape. This match is truly the epitome of greatness. It has never been equaled and never will be. We will always remember The Unstoppable Force meets The Immovable Object! ~AndreFan~

While the body slam can be debated, the one thing that is true is that this was the first time Andre was pinned. Hogan was very nervous because Andre would only loss a match if he let you.
If you think about it with only letting a select few such as Kurt Angle, The Undertaker, Sting, HHH (I'm only listing the ones who are still active) The Rock,and Ric Flair among him beat him, in Hogan's mind it might be a way of honoring a torch that was passed by Andre The Giant who wouldn't have passed the torched just to anyone either.
Because of that they made their personas work for their fans and for the industry.l