In terms of overrated, what league should be rated ahead of them? That's the point of overrated, that the conference or teams below them are underrated.
Generally everyone rates the SEC as the best this year, then the Big 12 and Big Ten are probably tied for 2nd and either could be ahead of them. Do we think the ACC is better? No. The Big East isn't good either. The Pac 12 doesn't exist anymore.
Ken Pom rates it as
1. SEC +22.7
2. Big Ten +17.98
3. Big 12 +17.16
4. Big East +13.59
5. ACC +9.40
6. Mountain West +8.44
7. WCC +4.29
We just need to realize the reason the Top 3 leagues are rated so high, it's because the other leagues flat out aren't good. There isn't some anti-ACC bias or anti-Big East Bias, the leagues just aren't good. And they have to put 68 in the tournament and those polls have to pick 25 teams from somewhere.
So because the rest of the conferences outside of the top 3 are so down, their teams will be rated higher.