He may, at one point in time, been a major player in the music business. He has influenced many people in his career but his influence has not carried over into today's generation. The youth of today have no idea who bono is. His time is worn out, his musical taste is aged.
Bono is overrated, but through no fault of his own. Americans tend to love or hate celebrities, and they've found many reasons to put Bono on a pedestal, when Bono is simply doing his thing as a human being and is involved in many different social areas. He's no different than any other charitable person, except that he has more to give.
Bono is a has been. He career is on it's last leg and it is high time he retire. He was great in his time, no doubt. He was knighted by Queen Elizabeth. He was known for his humanitarian life. He has raised a lot of money for charity, so yes, he was a good guy. However, we hear nearly nothing about him now.
U2 is one of the few bands, that I can say I enjoy all the works of. His singing, even after 30 years of it, is still excellent, his influence is vast, and on top of that, he is one of the few celebrities who actually practices what he preaches. He talks about the need to donate money to Africa, and he actually does so, by the millions of dollars.
People complain about his moving due to tax evasion, but can any one blame him? I don't care how much money I'm making, the government should get as little as possible. I think most of us would do the same thing.
Bono's influence is genre-spanning - his band U2 is commonly cited as a major influence by Contemporary Christian Music (CCM) and Christian rock bands, and a group of them actually made a charity album of U2 songs - In The Name Of Love: Artists United For Africa. Combine that with his extensive philanthropical work towards aiding those in Africa and with AIDS and Bono is anything but overrated.