Wow, I disagree 100%. I think he's criminally underrated.
I'll add to the list.
Overrated: Vernon Reid (what slop!)
Yngwie (great technique, but I hate that style)
Steve Vai (yes, I know he's amazing, but he leaves me cold)
Underrated: Angus Young (no one rocks harder)
Kirk Hammett (great solos...I don't understand why people slag him)
James Hetfield (Even though he isn't a lead player, he CREATED the sound that metal bands still copy to this day)
Robert Smith
Johnny Marr
The Edge
Edward Van Halen (yes, he's one of the highest-rated guitarists in history, but I still don't think he gets enough credit for changing the way people play and BUILD the instrument as a whole)
It's about time someone said James Hetfield. Over-rated: Angus Young Under-rated: Zappa and Buddy Guy