As to being overrated, both yes and no apply. In terms of the spiritual and symbolic meaning behind the holiday, New Year’s Eve represents a fresh beginning. It symbolizes the hope that after the winter, the sun will come out again. It is also the best possible time for self-reflection and personal development. People tend to take a look at themselves and their lives and realize what they need to change.
However, some people will make resolutions for the new year, and the rest of the year, they do not follow through with their “resolutions.” Many people will often make excuses about why they can’t exercise or repay the money they borrowed. New Year’s Eve can be rather disheartening if the expectations for the evening are too high. Also, it seems to be a justification to get wasted on alcohol, which can lead to something dangerous such as drinking and driving.
The right answer to this actually depends on how we choose to look at it. I have heard a lot of people saying that New Year's Eve is the most overrated public day celebration. Many are of the opinion that the reason for the celebration is not well understood by most people. What most people do or think they should do on New Year's Eve is to get themselves drunk and engage themselves in all kinds of immorality, all in the name of New Year's Eve celebration.
However, New Year's Eve won't seem overrated if you know exactly what you should do. I consider the day as a perfect time for people to ask themselves some deep questions about their journey since January. We have all been to so many Ups and Downs, and we have learned our lessons. However, we still need to plan ahead for another year. I believe the New Year's Eve is a time to reflect on our past mistakes and achievements, but it is saddening that most people have lost the true meaning of the celebration.