If that's stumping for Kerry, it really doesn't make any sense. I don't think you can argue Kerry ran a "hope-based" campaign. The best you can say is, Kerry didn't say America would be struck by terrorists if the Republicans stayed in office--but with a major plank of his campaign being, America is less safe and more vulnerable to attack post-Iraq, even that's only a half-truth. The charges of fearmongering from Dems that election were overblown, especially with so many people saying, this was the most important election of a generation, because Bush is destroying the country, destroying the environment, destroying civil liberties (he's listening to your phonecalls!!!), destroying the Constitution, etc. Fear can be rational--as you say, it's "usually" a bad thing to use, implying "not always"--and Kerry's entire campaign was based on demonizing the crooks and liars in the White House--how was that not a fear-based campaign? Not to mention the fact that Dems strike fear into the hearts of old people and blacks two weeks before every election.
Even running a "hope-based" campaign means you have to play on the fears and insecurities that exist in current-day America--otherwise, what exactly are you hoping for? Obama's campaign f/e is simultaneously positive and negative: America's an awful awful place, but now I'm here to fix everything.