Due to its disadvantages like scaling issues and being hard to use, Monero has not been able to attract enough interest to go up as high as some people expected it to. This is why its current price is at this level. In other words it may not be as undervalued as you might think just because it also has some advantages.
Indeed, so far Monero has not been free from the advantages and disadvantages that exist, depending on how they assess it from different angles and user experience is much more important regarding wallet choices and transaction matters, even so, everything has been fixed to improve better efficiency of use for the future and that continues to be done.