I don't ever see anyone overrating him as a player. You can't really overrate him as a shooter -- however, he's a beloved player because of his clutch abilities, on court antics and rivalries. Guys are thirsting for much lesser players than Reggie. Lol you can't really overrate 25,279 points in the NBA....
....Outside of Reggie and of course the C-Webbs, Chuck and Grant requests you'll be hard pressed to come up with better players that are also more iconic/popular than him that aren't included. I'd be interested in seeing that list of better players that could be featured that people actually want. It's not like the want to play as him is unwarranted.