No, cyberwarfare is not overrated, because cyberwarfare can really upset a country's economy. There are so many things that depend on computers and the internet these days, any interruption to the internet would truly hurt a country. Cyberwarfare also would interrupt the ability of the people to find information and news. It is a big problem.
Cyberwarfare, alongside drone war, in keeping with the general automation and computerization trend human society is going toward, are the future of warfare. If anything, people underestimate cyberwarfare and the threat it poses to national and international security. One of the only civilian groups that truly gets this is Anonymous.