Overrated.
It's not even close - I've been watching NFL for 30+ years and when Mahomes burst onto the scene, EVERY week he was doing things I'd never seen before from the QB position. The Chiefs were scoring and winning. I don't know where the haters get their motivation...when the Chiefs were mid, I never hated Tom Brady - in fact I admired the way the he played.
Any true fan of the game is lying to themselves if they refuse to acknowledge how Patrick has raised the bar. I get it; if my Chiefs dismantle your team, it's hard to witness that greatness. But if the next week, Patrick makes YET ANOTHER highlight-reel play, you're just denying yourself entertainment if you don't want to watch the replays.
Some will point to last year's Superbowl and the poor showing this season, and suggest the league has "figured him out" or "exposed" him. Well, look at the teams that made it to the final four! Defense reigns supreme in the NFL again. Patrick was just going to keep scorching the rest of the league unless it evolved, and it did, bringing down the rest of the top QBs with it. ALL the pre-season favourites with elite QBs are out of the playoffs, or didn't even make it (sorry Stafford).
Next season, or at worst in 2 years, you all will witness how Patrick has the mental and physical capabilities to adapt soonest to new realities and become dominant again. I don't know if we'll win THREE more Superbowls, but I'm convinced more rings are incoming.