IMO, the brackets were very favorable to them. They only impressed against Poland and a Portuguese side who was a physical mismatch and whom Germany always seems to have an answer to, Rochambeau-style.
I don't know about overrated. But the guy does get way too much Nike commercial time for what he contributes on the pitch in big matches, IMO.
I do not see Ballack as ever being the player who elevates a team to a title or cup victory. Good and influential, but never good enough for first prize.
Which it would take a pretty sad sack of Germany, such as the Euro 2000 squad, to flub against Portugal in any given year.