Most overrated? As in undeserved critical acclaim? As in huge publicity and ticket demand, despite lack of critical acclaim or despite story, script, or musical problems? As in staying power for a long run or a revival despite similar problems? Overrated as in being pretentious or simplistic or shallow, but people don’t notice? (Gosh, I’m giving away the fact that I’m a lawyer based on my insistence on parsing the word.

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Depending on which form of being overrated someone means, here are my nominations: “Spiderman, Turn off the Dark,” which I haven’t seen. I’m nominating it because it cost a fortune to stage, and appears to have been designed as a spectacle to showcase gee-whiz effects.
The Sound of Music, Anything Goes, and Annie, because they’re so darned CORNY.
Oklahoma and Annie Get Your Gun, because they’re hopelessly dated.
Jekyll and Hyde because the story is too unsophisticated for modern audiences, although it would be fine with some clever tweaking.
Grease and Bye-Bye Birdie, because, even though they’re a lot of fun, they’re shallow.
Love Never Dies, because, even though the music, singing, and staging (at least in the Australian version) were amazing, it failed to live up to its hype, probably because it managed to infuriate a bunch of Phans by contradicting their Phan-Phic Phantasies.
Rebecca, because it’s a hit in Europe and fancies itself the next Les Mis or Phantom, but can’t even manage to open on Broadway after selling a bunch of tickets.
Recent revivals of My Fair Lady, because, no matter how good the singing and dancing, the story loses much of its richness when an overweight “alte kaker” is cast as Higgins, taking away the sexual tension that pervades the original.
You alone can make my song take flight.