Not at all.
When I was doing my pg studies in UK there was a BBC programme which rated all the best island tourist destinations in the world taking in to various factors. and despite civil war which was at its peak in 2003-2005 SL was runners up! Bali was No 3 or 4 and Winner was Cuba.(see how independent BBC rating was in this instance- not on political issues always
I admit we are lagging behind a lot. Eg there is no proper public transport system from airport(like train or proper constant buses with comfort) Even our hotels are far behind compared to facilities in other countries specially for families. But we are definitely not overrated and we are under performing for at least last three decades including decade after war where we never had a good strategy and implementation.