It's overrated.

Meaning

It's not as good as people say it is.

Examples

• John: Have you tried that new restaurant everyone's talking about?
• Alice: Yes, and I think <b>it's overrated</b>.
• John: Really? I was planning on going. <b>It's overrated</b>, huh?
• Alice: The hype is much bigger than the reality, in my opinion.