Yes, the Yeezy clothing line is overhyped for one simple reason: it is made by Kanye West. Wherever Kanye goes, the media seems to follow. The same may be true for Donald Trump. Celebrities have risen so far up in media attention, that they all can get away with whatever they want.
The garments "normal people" would wear are all sold out. The rest.... I think people would only rock to say they were wearing it not so much because it looks dope or anything. Not sure where Ye' is going with this stuff but its way over any of his fans' heads.
The clothing line is definitely overhyped. It would not even be successful or talked about in any way if it wasn't for Kanye West being the designer and the Kardashians promoting it heavily to their followers. If he was just some regular designer with no connections, no one would even look twice.
At the opening gala for "Yeezy Season 4" the attentees were presented with the option of buying T-shirts with the words Season 4 in neon letters for $75. $75 is a great deal of money to spend on something as simple as a t-shirt no matter how expensive the material is.