I honestly think this statements come from A.) a guy who comes from a very crappy club B.) a guy who doesnt work under a belt system.
Bjj is one of the only martial arts i can say where people who have a certain belt deserves them.(most of the time) Of course there are going to be guys that are better then others in each belt division. Some people are stronger, faster, better conditioned... Which all comes into play when fighting each other.
I have yet to run into a purple belt who got their belt Just because they came to class all the time..... You have to show your worth and be tapping out the guys in the belt classes above you. Our instructor doesnt do test or things like that he decides when your rdy to move up when you cans survive and threaten the belts above you on a regular basis.
He is a past head instructor at the Gracie barra in rio, and a 3 time pan american gold medalist. I dont think the belts are over rated one bit... Our brown beat our purples, our purples beat our blues, and our blues beat our whites... How it should be..... and mutliple pan american gold medalist are found there.
You did say given on a good reason and im not trying to start a post war, simply pointing out saying belts are overated is a blanket statement... People spend years of their life and lots of hard work to work their way up the belt system and in an instant your saying their badge of that accomplishment is "overrated"