If you look at Dr. Dre as more of a Quincy Jones or John Williams type producer whose music centers more so around his vision for the sound as opposed to hm doing everything from scratch, no.
But, if you're talking about Dr. Dre as a beatmaker who does everything from scratch, then yes.....he is sort of overrated. Dre has made beats from scratch here and there but a lot of his beats had assistance from Yella, Daz, Melman, Storch, Mike Elizondo, and others. 2001 was the beginning of the "Dr. Dre and Friends" era of production being more obvious but Compton and Missionary have an even stronger roster of co-producers than 2001 despite those albums being worse lol. This transition from beatmaker to "producer and friends" applies to Kanye too.
It really depends on your POV though. Like there's a ton of classic beats associated with Dr. Dre and his mixing/engineering skills are still out of this world to this day. So, in that sense, Dr. Dre isn't overrated at all. In a Verzuz, Dre would put a lot of producers through the Walk Of Shame.
As a pure beatmaker, though, Dre isn't on the level of Premo, Pete Rock, Dilla, RZA, Alchemist, and Marley Marl. It's apples and oranges. I will say this too.....because of the Eminem association, Dr. Dre is often White casual's and foreigner's go to answer for who the best hip hop producer is.