overrated

Something overrated is thought better of than it deserves. An overrated restaurant, an overrated film, an overrated player. It is a judgement about the gap between reputation and reality, not about the thing itself.

That is what makes it useful and what makes it slightly dishonest: calling something overrated says nothing about how good it is, only that other people are wrong. A very good thing can be overrated. The opposite, underrated, is the friendlier of the pair and is used far more generously. The word is nearly always used predicatively — it is overrated — and it is informal in tone even where the subject is serious.