Rubin pitching 'Hurt' to Johnny Cash was brilliant. I watched the video earlier and it got me emotional, as it made me think about my aging father. It's quite powerful.
That being said, this version is only good because it's Johnny Cash doing a great song, not because Rubin produced it. It's good in-spite of Rubin having produced it.
The production itself starts out with great potential, then the whole thing falls victim to the 'loudness war' and it just becomes a square wave as all the dynamic are squashed out of it and it goes into clipping.
He had an aging and vulnerable sounding Johnny Cash... doing a great song and that should have been enough, but somehow the decision to clip it into digital distortion seemed like a good idea... Yikes.