Overrated ~ in no particular order: Beau, Marshal, Julian, Pietro, the wolves, Fauna, Cherry
Marshal ~ I was trying to make my town diverse and even though I don't care much for smugs, I decided to find a different smug to have in my town; Marshal was the only one that thought was kind of cute. I do like his sulky appearance, but I don't think it goes well with his voice or personality; I think he'd be cuter as a cranky. Even though I like him, I do think he's over rated and there are other cuter villagers out there.
Fauna ~ I honestly don't think she's very cute or cute the way I think of fauns in real life. I don't know if it's her eyes or head that makes her design look weird, or what it is that bothers me a little about her appearance.
Underrated:
Puddles ~ even though I don't like pink, don't care for frogs in real life or animated; somehow she found her way into my heart. Since she has been with me since day one, I feel more attached to her and happier when she tells me how good of a friend I am to her, than I do with Rosie, whom I've had only for a few weeks now. I love Rosie too, but, I don't feel as emotionally attached to her yet as I do with Puddles.
Pudge ~ Ever since I saw him in a sailor tee in this
thread, I couldn't stop myself from thinking how cute he is and wondered why I never paid attention to him before. Now, I think he's just as cute as Stitches even though his appearance is more natural and generic (I think that's the word) looking than Stitches who is really unique and interesting looking.
Roscoe ~ For some reason, I have always been under the impression that black stallion characters (in not just Animal Crossing but other games, television shows, or maybe preference in the color of a horse's coat irl) would be really popular; I don't remember what the reason was for me to be under this impression though. I guess maybe it's just like the popular categorizing/stereotyping of what colors girls would like more than guys and vice versa. I know that sounds kind of dumb what I just said :/. Anyways, I honestly thought and still think Roscoe is really intimidating ~ and intimidating looking; and I think his appearance really goes well with his personality.
Note: I'd write more about each of the villagers I listed and add more to the underrated, but I'm getting tired lol.