95% of the time it is used incorrectly.
Appropriate times to use it:
1) You are clearly the best team, you destroy your opponent, and you didn’t need the win for your resume in the first place, or
2). You are literally the bottom feeder, maybe even the worst team, you and everyone else knows it, and you either beat or come close to beating someone else.
Unless you are literally the best or the worst, you should just suck the overrated chant away and not use it.
I guess Ute fans aren’t approaching #2, though….