I think if a band is hip it doesn't necessarily mean it's bad or even overrated. Some bands just live up to their expectations and are hip for making just very good and new music. I definitely don't consider bands like Joy Division and the Smiths overrated. However bands like The Ting Tings, MGMT and Vampire Weekend were considered very hip over here last year but I think it wasn't anything special so I'd consider those overrated. I'm not that impressed with Grizzley Bear either. It's just not my cup of tea but I don't think it's that new either.
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