Jeff Healy
Prince
Alex Lifeson
Rik Emmett
Randy Bachman
Keith Scott
I think it might depend slightly on context. If we are talking about guitar nerds on this site and ones like it I think all those guys are extremely highly regarded and well-rated.
However, if we are talking about the music-listening public at large you have a great point, even with Prince who although held in high regard doesn't seem to get the due he deserverd as a guitar player. And the most criminal one to me is Alex Lifeson - the dude is a bonafide guitar god and definitely does not get the general acclolades he deserves. Alex should be mentioned in the same conversation as Page and Beck IMO.

I was also thinking Richrath. There are guitar nerds who have put him on a most overrated list. I've watched plenty of REO video.... and I just never got that. Was he Top 50 greatest? Probably not. Top 100.... maybe. If he did lack something in mechanics, he way more than made up for it with pure heart and soul.A few I can think of right off the bat not mentioned anywhere above?
Jake E Lee
Gary Richrath
Jerry Cantrell
Tracii Guns
Vernon Reid
Mick Taylor
Two that standout big time that are frankly so underrated it's disgusting? Peter Frampton and Frank Zappa
Yeah I can't see where he was ever over rated either. REO is one of those bands that people love their music but at the same time, will often ignore them intentionally to sound cool because yeah, they did go down the love ballad road a lil too far. But even in that, Gary usually had to make his mark and give it some edge. Fine example? Keep On Loving You. Definitely a ballad but he famously got pissed off in the studio over it and did some big soulful guitar licks and solos over it to make it a rock song at the end of the day, much to the chagrin of Kevin Cronin but it saved the song and made it a big hit.I was also thinking Richrath. There are guitar nerds who have put him on a most overrated list. I've watched plenty of REO video.... and I just never got that. Was he Top 50 greatest? Probably not. Top 100.... maybe. If he did lack something in mechanics, he way more than made up for it with pure heart and soul.