I'd say slightly underrated to properly rated. The early albums absolutely ripped, but the 2000s output was inconsistent - each of the late albums had a couple of songs that probably would have launched a band but the albums overall were lackluster. You could argue they became a bit of a singles band down the road (after Be Here Now). The live show could be really, really great or Liam might not show up at all. Don't forget they are one of the biggest bands to come out of the UK since the Beatles. The goal for this band seemed to always have been to write bombastic, epic rock songs and present a larger than life image and they did it as good if not better than anyone.