Sins of the Fathers Chapter 8: The Ultimate Slayer - S3-E8
Factual error: Despite being a paraplegic, when Smythe is about to be lowered into the vat of chemicals, his legs are pretty toned and muscular. The show implies that Smythe had been wheelchair-bound for a long time, so even if he had muscular legs prior to his paralysis, the muscles would have atrophied.
Sins of the Fathers Chapter 8: The Ultimate Slayer - S3-E8
Other mistake: When Kingpin is berating Smythe over his failure to kill Spider-Man, the camera footage Kingpin is showing of Spider-Man is merely clips from previous episodes.
Answer: In the comics, Hobgoblin's true identity was kept a mystery for a long time intentionally and while many fans deduced it was Kingsley, and creator Roger Stern was leaning that way, Stern left the series in 1984. In 1987 Hobgoblin's identity was revealed to be Ned Leeds and then Macendale became Hobgoblin. It wasn't until 1997 that Sterns wrote the mini-series "Hobgoblin Lives" and retconned Kingsley as the original Hobgoblin.
Bishop73