Independence Day
Young Will Smith was a juggernaut in Hollywood at the turn of the century. Even though the acting is good, the setting is cool, the visuals are neat, and the story is interesting, this is just one of those feel-good blockbusters that you already know the end of before you even start the movie. We think that Independence Day deserved the hype at the time it came out, but it hasn't aged well.
The Matrix Franchise
Basically, The Matrix series is a visual experience with virtually no substance for the characters, but a rich world that they live in. This translates into a lot of "ooooohh ahhhh" moments, but absolutely zero "I understand this movie" moments. Everyone loves The Matrix, but people think way too deep into it. These movies are overrated because they put more effort into enamoring the viewer than educating them.