In the comics, Hobgoblin was a direct knockoff of the Green Goblin, a villain who discovered Osborn's hideouts and equipment and was inspired to take up Goblin-ing himself (although, being comics, it naturally got much more complicated than that). However, the Hobgoblin came first in the '90s animated series, because the toy company insisted on it for some reason. They worked it out by having a pre-Goblin Norman Osborn be the one who provided the weapons and equipment for the Hobgoblin, then claimed them for himself when he finally had the accident that turned him into the GG.
It wasn't just that. At the time the 1994 cartoon came out, Norman was still dead (and frankly, hadn't been all that successful a villain at that point) and the Jason Macendale Hobgoblin was still active. No one knew Kingsley was the Hobgoblin then, so they went with Macendale