Why wrestlers still think we want to watch them hug each other (with great vigor!) in the middle of the ring for three minutes at a time is one of the more confounding elements of modern sports entertainment.
It doesn't happen nearly as often as it used to, but you still see the bear hug pop up in matches between bigger guys. Mark Henry still uses the move as a signature and, hey, it's not that a bear hug can't be an effective move for a 400-pound guy, but there's no denying how damn boring it is to behold.
At least Braun Strowman's similarly-tacted triangle choke has some theatricality to it, with his opponent being lifted off the ground and flopping around in his arms. The bear hug, however, is never sold this well.
It's just an absolute killer of momentum. The pacing of a match comes to a grinding halt anytime someone dares wrap their arms around their opponent's body, clinging to them like a toddler to his mother's leg when he doesn't want to sit on Santa's lap. Exhibit A: The match between Mark Henry and Ryback at WrestleMania 29, which helped to "kick off" the biggest night of the year with a series of furious grope sessions.
If you aren't at least picking your opponent up off their feet, the bear hug becomes a complete waste of valuable match time.