It's more underbought than underrated. The X is better than cheaper iPhones, but not that better as to justify its price.
[citation needed]
In my circle, where at least one person always buys the new iPhone, there isn't a single iPhone X owner. I know several would love to have it, but the improvements vs. the previous generation can't justify the expense.
My opinion is similar. Before the announcement, I wanted to change my Android for an iPhone. After seeing the price, I'll go with a vastly more capable Android again.