They are overrated in the same way profoto lights are in the lighting arena, hassy's are in the MF arena, and the Nikon D800 is in our arena... There are always going to be other manufacturers that can do the same thing cheaper, better, and have better customer support, and to those who do not need them, they are extremely over-rated. I've come to the conclusion that in photography, there is no holy grail set-up... nothing you buy will make you a better photographer. It can make your job easier and be more reliable, but in the end, it cannot do it's own thing and take it's own pictures. If it's the gear (and the only gear that will help you do what you need and nothing else will do), then no, it's not overrated.