Certainly it is overrated at this point since we are in the early stages. That said, we are already seeing things start to spread out.
I do agree most people do not care...until they have a reason to care. Many of the content creators that were displaced by YouTube did not care either...until they found their accounts shut down. Suddenly, then they cared.
I do not see the move stopping the trend towards greater control whether it is through governmental regulation or a company's own governance. This means there will be a wider net cast with more getting nailed in the process.
We will see how it all unfolds but I look at this as a phase we will go through.