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How does something get overated? overated has to be one of the more dumbest thrown words on the internet around, in every damn forum.
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I understand your criticisms about the overruse of the term, but seriously, it is one of the easiest concepts ever. "Overrated" describes a things that is valued more than its actual, objective value. So any form of hyperbolic or hyped up claim can be considered an overrating. But generally, overrating refers to something that is praised heavily after its consumption even if it doesn't have that high quality. For example, if a game with several fatal bugs is given a high score just because of its massive fanbase and good gameplay, it can be considered overrated, as it is far too unpolished to be considered a great game.
Of course, this fandom pretty tribal about literally everything, so even making the smallest criticism about the fandom or the franchise is basically a death sentence.