#2 His mystique carried him
The WWE have done a great job in making below-par talent look world-class. From the very first time he debuted at Survivor Series in 1990, Taker was billed as this mysterious unknown entity. This led people to draw towards him, as they became intrigued to understand who this "Deadman walking" was.
That intrigue has stayed with him over his whole career and made him the icon he is. You know why that makes him overrated? Because mystique can perk interest in anyone, they don’t have to be good. Over the years, that mystique has turned into rarity, as he only appears once a year for Wrestlemania.
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In today’s age, less is more, thus making your rare appearances more worthwhile. Now, that rarity has turned into nostalgia, another social engineering tool used to overhype the Undertaker to the WWE Universe.