It is overrated when you are tuning the wrong thing, but if it is the bottleneck in a significant process for you use case then it is often very significant especially at scale. For someone running a compute cluster for their own needs or as a cloud service a couple of percent improvement like this represents a massive gain in throughput or a saving in the need for extra kit (or power costs - there may even be a small environmental benefit).
Of course on the scale of you or I, such optimisations may be little more than a curiosity most of the time. A process that normally takes 100 minutes (a video transcode, perhaps) now taking 95 followed by the machine being idle while it waits for us to look back and see the result, is not really benefiting from the benefit.
> without actually needing to learn how to change it
This is certainly a problem sometimes, but not an argument for tuning bring overrated in general. It usually comes down to tuning the wrong thing, like someone playing with mysql engine & kernel IO parameters to eek out a fraction of a of % bonus when they could improve index structures, or fix queries with no sargable predicates, or both in unison, to get benefits measured in orders of magnitude.
It can be overrated in the case of average gamers tweaking their hardware to get a few extra FPS on top of the many tens they already get, but again this not being worth the time for some, even many, doesn't mean it can make a huge difference to a pro-gamer or someone using old kit where "a few extra" is a relatively large gain.