Short term - yes EOS is overpriced if it is really at a $3B valuation (currently this would make it a top 4 coin on CMC), long term - who knows? DL has a solid track record and this is his most ambitious project to date. If (big IF) it overtakes Ethereum AND other crypto tech such as IOTA/tangle, it does seem to have the potential to disrupt the cryptospace and become a major distributed ledger infrastructure play. If the market cap of all crypto goes into the trillions which many have speculated it could then even a $3-4B valuation may put the tokens at less than 1% of their ultimate long term value. Investors should be careful, at this time it is more of a play for speculation.