Ethereum is not overpriced, it should be valued at more than 1000$ per coin because it is really a highly valuable Blockchain that is being used by thousands of humans. It's underrated for sure.
Also Ethereum was more than 1000$ at the time, when it have multiple time less usage, and bitcoin was at 40% less than this days.
Huge part of coins on coinmarketcap, based as smart-contracts on Ethereum aswell.