You really have to clarify what over-rated means.
So, people say the B16 is great... so... what?
Most 1.6 liter engines make about 110-120 hp... the B16 makes 160-170 hp as stock.
The most powerful builds for streetable 1.6s I've seen peter out at about 200-300 horsepower. With the wide availability of parts, upgrades, and such, for the B16, it's possible to build 400-500 hp street blocks. No, it's not cheap or easy, but I've seen a couple.
The B16 isn't without its faults... it lacks torque, and the open-deck design and possible crankwalk are a problem in high power applications... but it's been rightly hailed as the "Chevy Small Block of the 90s". Simply because it's relatively cheap, easy to upgrade, and makes a lot of power.
"Over-rated" means that the thing we are talking about doesn't meet expectations... or that it's not capable of the things people say it's capable of... unfortunately, the B16 is
very capable... hence, not over-rated.
I'd say that the same goes for the 4AGE... how many other motors exist in so many varieties and applications? From the 135 horse redtop 4AGEs of the Hachi-Roku era to the 4AGZE, 4AGTE and the 20Vs... up to the legendary (but rare)240hp Formula Atlantic motors... the 4AGE is adaptable to many more configurations than the B16... transverse mid-engine rear-wheel drive, front-wheel drive and longitudinal rear-wheel drive... it's one of the engines of choice for small kit-car and track-car makers, though many newer kits with the MR layout prefer the B16/B18 or the Nissan SR20.
These engines form the backbone of many backyard tuner industries and racing concerns... they're cheap, they make lots of power, and they're reliable. Over-rated? Not bloody likely.
Hated? Feared? Definitely. Especially by those of us who labor long and hard on our "inferior" motors to beat that guy with the 4AGE swap on the track...

...Gut-Damn, those things are fast.