It features the oldest animatronics of any attraction and it's driven by animatronics to tell the story. Disneyland's update was mediocre at best, but it's still a substantial upgrade over Florida. The only other one I've experienced is Tokyo, and while that one also features relatively primitive animatronics, the attraction is still better than it's Florida counterpart. The ride is dated. It has nothing to do with the story telling component of it, it just needs to be updated.
With all that said, I booked a Fastpass for it for my upcoming trip. I enjoy the ride, but it illicits ridiculous waits for it's current state. That's my opposition to it and that's why it's overrated. It's a C-ticket attraction that needs a significant upgrade and yet it gets E-ticket level waits.