In Italy, just as you say, since 94 Pantani made people turn on the TV to see what exploit he might do, who didn't even follow cycling. That's how popular Pantani was. He was, for Italy, a throwback to the glory years of Coppi and Bartali. He was hailed il campionissimo when he won the Giro-Tour in 98. The problem was after Pantani was brought down, he was convinced in a conspiracy, he didn't receive what his blown-up ego thought he deserved from the cycling establishment. He was the classic underdog, who, while showing suffering, rode his rivals off his wheels, one after the other until triumphing solo. This naturally resonated well with a great many Italians, because his struggle on the bike was there's in life. As you Say, David against Goliath. He was the average Joe, the loser, like the comic anti-hero of Italian cinema in the 70s, Fantozzi, who nonetheless vindicated himself and metaphorically all struggling Italians by being a sacred monster in the mountains, for Italy the essence of cycling. And Pantani did so with exceptional aesthetic bravura, with eminent stilo, which is another reason why he was so captivating in Italy. It was his very meekness and introverted personality, however, after all of the stardom got to his head, that prevented him from bouncing back after Madonna di Campiglio. He felt a victom of a corrupt system, unjustly persecuted by a mafioso strike to take him down, while others got a free pass. He of course was not entirely right (nor wrong) about this, but he could not be convinced otherwise and so slipped down the slopes of self-destruction and ultimately self-extinction.
Pantani personified for Italians the colossal undertaking against improbable odds: il Mortirilo, Galibier, Alpe d'Huez, Oropa etc. He captivated imaginations and inspired the downtrodden. This is why I find it rather annoying and pathetic CN's moralistic and uppidy reports criticizing Pantani's continued positive legacy in Italy. Italians know things aren't done on pane e acqua, never have been, never will; so it's useless to denounce this or that rider when the whole peloton, or nearly so, is on something. They thus aren't hypocritically caught up in condecsending virtue-signaling, the way a certain Anglo-Saxon journalism is on this website, and frankly only care about the way Pantani, with great panche, demonstrated how the little guy could triumph over giants and nature itself. His story was a heroic Greek myth until it ended in tragedy. So it's meaningless and stupid to chidingly ask how could Italians still venerate il Pirata. They simply do and will continue to do so I image for as long as the sport exists.