I think the amount of hype given to James is due to the massive impact one organization - espn - has on sports and sports reporting. They had the contract to televise the NBA finals, and now they're milking whatever NBA-related stories while they can, while basketball is still fresh on people's minds.
The other day I ventured to their main site (yeah I know, dumb move) and where they post headlines with links to the top stories of the day, five of the top six links were NBA-related and not one about baseball - even though the NBA season ended weeks ago and MLB is in midseason.
To me this shows me 'news' portion of the organization, the side that reports on what is going on, is getting directive from the promotions side, the part that broadcasts events. I do understand its a business, but it seems that each year that passes they are more and more blatantly talking about whatever they broadcast and ignoring what they do not. Spelling bee and hot dog eating gets lots of coverage; hockey does not. If espn broadcasts the world cup it gets lots of coverage; if someone else has those broadcast rights the coverage drops dramatically.
Do we really think there would be so much talk about LeBron James if espn did not broadcast the NBA? They are such a powerful force on television that they set the tone for what is and is not relevant in the sports world in America. Sure, there are plenty of other sites and television networks, but they pretty much follow espn's lead, for fear of being left behind if they don't.