No, Wario is how everyone else in the world views Americans. =P
Seriously though, the "reverse Mario" explanation sounds best to me. Mario is an all-around good guy who does good stuff and has heroic features, while Wario is an evil inversion of all his features. Some of the jokes played on him might be stereotypical of Americans, but I wouldn't think too much of it. You guys are so common in popular culture, that you get your fair share of good heroic types as well.







