Being overrated could be very fascinating for some, but I prefer being underrated by people. It's simple, why would someone want to live a life in which you are rated above your level of understanding or skill? Being overrated complicates the various aspects of our lives and it gives us certain expectations to fulfill, which may lead people to be 'judgemental' over us if they are fulfilled below par.
It is not unusual for us to see how a lot of people in this world underrate people on their first impressions. Like for example, a lot of new employees might be underrated when they first join their enterprise. But, this might just as well be encouraging or advantageous for them. It may lead him to think he should excel more in his job and do the tasks given well before time, and when he fails to do that, he may not be criticized. Although if he does a job better than expected, he will be flooded with praises and his colleagues might be astonished! When one is underrated, he can strive to become better, to prove others wrong and reveal his full potential, and should it fail, there is nothing to lose.
Going back to historical evidence, in France of the eighteenth century, there were social classes which were strictly divided: the noble, the bourgeoisie and the poor peasants or the proletariat. The noble and bourgeoisie underrated the proletariat, never cared about the poor and thought the poor could never do anything. The apathy and depreciation from their part gave the poor ability of emancipating from the tyrannical authority. If they had been overrated by those in power, French revolution would not have taken place.
In conclusion, being underrated gives advantage for one to prove others they are wrong. It allows people to see the quality within, not what it appears to be. After all, it is what I believe, that one need not to appear the best, but be the best.