I don't think Matic is over valued still up to this time, id indeed the market has already bottomed. Its time to buy loads of it. Once the tokens from ETH and BNB able to migrate to Matic and SOL, the two will have a good price.

These are all layer1 token, obviously they all have utility that creates demand when more projects are developed on its chain. The developers and projects contributes to rise of SOL or MATIC.