Yes I think it's overrated. We went to Hawaii Jan 18-Feb 2 2020, just before everything shutdown. We visited 3 islands and 3 resorts. Grand Wailea on Maui, Four Seasons on Lana'i, and finished with Aulani. The whole trip was great, but Aulani was not in the running for favorite stop. Part of that is because of the island it is on. We much prefer any other island.
We stayed with our points at Aulani, so price wasn't an issue. We paid cash for the others and I left both those resorts feeling like I had got my monies worth. I will be paying for both again in the future. They were both fabulous in very different ways! I also prefer the actual beach in front of me. The lagoons are awesome if you have small kids, but we don't so I want some waves and clear clear water.
The part that made Aulani good, and was a complete accident, they were filming American Idol and my family thought that was awesome. We were so excited the first time we saw Katy Perry, but then she just became another person because we saw her a lot
The contestants were great and our daughters hung out with several of them. If it wasn't for American Idol I would have been very annoyed we left either of the previous resorts for Aulani. Have no plans to go back to Oahu.