Short answer for you: The most overrated bass players are anyone that's ever been named the world's greatest bass player. Simple as that. At least to me.
I mean, as good as Jaco was, no one is without faults. Nobody is the world's greatest bass player. Here's a little list of some of them for you in no particular order:
Jaco, Stanley Clarke, Victor Wooten, John Entwhistle, Flea, John Pattitucci, Cliff Burton, Mark King, Marcus Miller, Richard Bona, JACK BRUCE, Steve Bailey, Victor Bailey, Jeff Berlin, Chuck Rainey, Bill Dickens, Billy Sheehan, Stu Hamm, Verdine White, Louis Johnson, Bootsy, Al Caldwell and everyone who plays those damned 9, 11 and 12-string basses (the fool proof way to stay out of gigs for the rest of your career. The theme from Super Mario is not impressive!!! Especially not when played on "the backbreaker")
Now don't get me wrong I've listed some of my favorite bass players up there. It's just that they happen to be really overrated. Doesn't mean I think they suck. Some of them, I love. Others I don't personally like but acknowledge for their contributions to bass playing.
Another, more cynical, way to answer this would be everyone who's ever been on the cover of Bass Player Magazine. But use my first one instead. It upsets fewer people.