I don't think Gladiator or The Fall of the Roman Empire created his popularity. If anything they are modern example of a popularity that started in ancient times.
For example Ammianus Marcellinus on Valentinian virtues :
I think is good reputation is natural. He seems to have been an emperor who reigned with moderation just as he was moderate in his own life. He had to face great difficulties but managed to overcome them.It is fitting after this to pass to those acts of his which were praiseworthy and to be imitated by right-thinking men; and if he had regulated the rest of his conduct in accordance with these, his career would have been that of a Trajan or a Marcus [Aurelius]. He was very indulgent towards the provincials and everywhere lightened the burden of their tributes; he was always timely in founding towns and establishing frontier defences. He was an excellent critic of military discipline, failing only in this, that while he punished even slight offences of the common soldiers, he suffered the serious offences of his higher commanders to go to excess, often turning a deaf ear to the complaints made against them. The result of this was turmoil in Britain, disaster in Africa, and the devastation of Illyricum.
Personally I prefer him to a trajan who caused the conflict he participated with a first which add little to the Empire and a second which was completely pointless and could only create more and more complication.
I don't think his choice of his son for succession is bad. The Roman Empire was a monarchy that did not assume itself as such until some centuries but the dynastic logic was there from the beginning. The so-called adoptive emperors were forced to act as such because they either had no surviving children if they had some at one point or all of them were women. With Commodus, Marcus Aurelius just returned back to the "normal" situation after a long long time of irregularity started with Trajan "unorthodox" ascension to power.
I agree.