I haven't read all of these comments so I'm sorry if this has been addressed, especially by Flame and balemoc but here're my few cents that expand upon what those two users stated
"Indie games are overrated" is being VERY abstract. What defines a game being good, bad or anything in between is not based upon whether the developers are independent or with a group. Neither is their budget a valid reasoning in my opinion.
Being in a group or having a high budget MAY affect the resulting product but just because a game was developed by a group of individuals or not with or without a large budget doesn't definitively state the game is or will be good, bad or anything in between. Many OTHER factors do: mostly the exact ending product features that we can judge - Not HOW the results were produced.
With that being said, maybe "Indie games are overrated" as a measurement being "People are highly rating indie games FOR BEING AN INDIE GAME, regardless of it's quality, and I don't think that's fair" is maybe a more accurate statement (I guess to what YOU see, since I won't claim I know what the general consensus to things are relating to video game ratings. xD) and that may be so? In that case, I don't think it's fair to say "Most Indie Games" anything because I've played a LOT of video games that are considered "indie game" (For example, a lot of cool Flash games) and many of those were actually the complete opposite: They didn't have much atmosphere, many were stick men and the sort, but focused primarily on gameplay and fun (Many even with programmer art) than atmosphere and hype as you claim. I'm not using this as a claim to say most indie games are the opposite to what you say but only that you might be limiting your potentially broad vision on which indie games exactly you're focused on.
With that being said, here's your check list:
NO All or most Indie Games rely on atmosphere and hype but no gameplay.
NO All or most AAA games are just copies, but know that, and aren't trying to be something they aren't.
YES There are many Indie games that look just as high quality both gameplay and atmosphere, some even more so, than certain other big company games
YES The same as above can be said for big company games looking and feeling as if it was the stereotype of an indie game, even what you're claiming in this post about indie games (With the example being Hollow Knight) can be applied to many big company games as well.
Since there's pretty much the same argument on both sides, the silver lining here that doesn't change is that all games are different and who worked on a game, how much money they were paid, etc. isn't THE REASON it's overhyped, underhyped, good, bad or anything in between. It's the finished product. The reasons above can end up being justification for why the finished product is how it is, but those aren't the reason the game is good or bad. It's the factors of the actual finished product being the reason and both sides, indie and big company, can become victims to the tropes used and portrayed in the actual finished product that defined our lasting impression.