That was the case originally. But when Spidey managed to separate Rhino from his suit in there first encounter, Gamma Radiation was used to re-enforce the new suit he was given when the bonding process was duplicated. This isn’t the only time that some out element has buffered his suit. A similar thing happened in the gauntlet storyline as well.
Incredible Hulk #285
“Today is the First Day of the Rest of My Life!”
Cover Date: July 1983
Sale Date: April 5th, 1983
Writer: Bill Mantlo
Artist: Sal Buscema
Inker: Chic Stone
Letterer: Jim Novak
Colorist: Bob Sharen
Editor: Al Milgrom
Guest Stars/Supporting Cast: Scott Lang, Rick Jones and Bereet.
Villain: Zzzax
Synopsis: Bruce Banner is overseeing the construction of his new research lab, Northwind Observatory. Scott Lang is the foreman, and tries convincing Banner that he’s needed as an Avenger, or super-hero in general. Bruce isn’t having any of it, until Zzzax returns and the Hulk saves the day.
Commentary: Fat-Head alert with that transformation splash. Kind of a soft reset for the book, the first half is mainly recapping the Hulk’s story until the present day. This is the last we see of Rick Jones for a few years, as Mantlo writes him out of the book and shuffles him into future issues of Rom. From here, we see the start of the next phase of the Intelligent Hulk’s life begin with the observatory and a new cast.
"Sir, does this mean that Ann Margret's not coming?"
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"One of the maddening but beautiful things about comics is that you have to give characters a sense of change without changing them so much that they violate the essence of who they are." ~ Ann Nocenti, Chris Claremont's X-Men.
That issue (INC #285) was JUST before someone remembered that Hulk was Grey in his first appearance. I believe issue #302 at the Crossroads was the first canonical reference to grey-skin since issue #1. In all the origin recaps throughout the 60s, 70s and early 80s, he was featured as green. Had it not been for #302, Al Milgrom might not have decided to bring back that feature in #324….