Amiga is a complex 'platform'... There are various 'camps'...
On the one hand, we have the 'real' Amiga, as in, the computers sold by Commodore, with the original chipset, or the AGA one, and a 680x0-CPU.
On the other hand, we have the 'next generation' Amiga, which is PowerPC-based or even x86-based, shares no hardware with a 'real' Amiga whatsoever, and runs an OS that resembles AmigaOS (AROS is one of these, as is MorphOS, which can be run on some PowerPC-based Apple machines).
They use a compatibility layer based on UAE to run 680x0-based 'real' Amiga software.
There is nothing 'overrated' about the 'real' Amiga: both its hardware and its software were nothing short of groundbreaking at release time.
During the late 80s/early 90s, it was a very nice gaming platform, and the Amiga is almost singlehandedly responsible for the big demoscene boom in those days (and a lot of demosceners from those days are now working in the gaming industry. Most well-known example is DICE, which was founded by members of The Silents to market the game they had developed: Pinball Dreams).
I can recommend developing on a 'real' Amiga to anyone who likes to dabble in graphics programming, because the hardware is unique (even today), and it is quite an experience to write code for it, and develop all sorts of tricks for 2d and 3d rendering with this unique chipset.
In my opinion, if you're curious about Amiga, you should be looking at UAE and 'real' AmigaOS/hardware/software.