yes and no. overrated we all know, $250-$1250 1/2 inch acro frags that look amazing in pics and in 1 out of 25 tanks color up and look great although quite often still not as great as in the pic, and in 24 out of 25 tanks just never color up as we'd hoped. I am not hating on anyone though as nobody I have heard has bought these frags at gunpoint and its exactly the same in every hobby, you can spend relatively little and have nice but common stuff or you can get serious about collecting and seek out rare pieces and spend crazy money. art, golf, guns, electronics, etc etc etc all the same and as long as your kids are fed and your bills are paid its your prerogative to spend your money where you want.
as far as underrated I definitely see gorgeous pieces that are not the current hot "got to have" pieces that don't get the props or bring the coin they would with a cute designer name lol but are just as beautiful as some much more expensive pieces.
it's all supply and demand really if a currently hot piece is hardy and grows fast the supply will increase and demand and therefore price will drop. good example is speckled kraks, they grow fast and well for most reefers ime and we have seen the price go from $300 a polyp down to $75 a polyp and sometimes less in a relatively short amount of time. a good example of the other side of that coin is the strat, they seem to grow for almost no one and melt most of the time when fragged and I have never seen them go down in price. supply stays down, extremely hard to find, price stays high. just like anything supply and demand. just my opinions, no more valuable than anyone else's. thx!!!