How can it be overrated ? Everything in trading depends on candlesticks. By looking at the candlestick charts, you can determine when it is good to invest or when it is bad. How would we get the signals if there was no candlestick? I think this question has no logic because trading analysis fully depending on candle stick . So I can't agree with that it's overrated.
For people who understand the importance of candlesticks in their trading, it is not overrated but an important tool for them to earn profits. Because if you don't know how to utilize these candlesticks, you will indeed see it as overrated or not useful. But for most traders, it is their secret tool to understand the market of the specific coin along with their knowledge of what's going on with the project.