Is R.E.M. underrated by new music nerds?

They did what they did, and for a short while they were great; until Michael Stipe's ego and political leanings spoiled what was best about them. I think thatt hey were average musicians, but Peter Buck just had the spirit to evoke emotions from his playing that far more technically adept players miss. 

The first few discs were really a revelation at that time I think, my favorite being Life's Rich Pageant. I believe that time will be good to the earlier part of their catalog, where their more obscure lyrics inspire individual interpretation rather than the dated and tiresome political commentary that came later. 

I'm 71, and I like a lot of REM's music, and there's also a lot that doesn't do much for me. I saw them once live back in the 90's, with Sonic Youth opening, and kinda lost interest in REM while becoming a big fan of Sonic Youth.... I never thought of U2 as a 'Gen X band' (I was still in my 20's when I first saw them) any more than I thought of the Beatles as a '60's band'. 

@roxy54 Gotta take issue with the statement "I think thatt hey were average musicians". IMHO Mike Mills is one of the top 10 bass guitar players of all time. He carried the band, drove the music forward, and sang some decent backup vocals to boot. I don't think it is an exaggeration to say that REM saved rock music, coming on the scene at the peak of the pompous, overwrought arena rock era and before the emergence of grunge and the whole Seattle scene. I can remember driving home from college in 83' cranking "Murmur" on my tricked out car stereo and feeling that music was alive again. A pivotal band that with an amazing discography until "Out of Time" when they lost their way and then fizzled out altogether. 

@dodgealum 

Well, I don't think that rock music ever needed "saving". It's just a loose category that has many variations, and within that, REM certainly made their unique contribution. They were exciting, different and passionate, and not afraid to throw in an unusual instrument here and there. My apologies for underating Mike Mills. I saw them three times live, and I will agree that he is very talented. I don't know if you will agree with this, but I am someone who always pays attention to drummers, and I don't think that Bill Berry was much of a drummer at all. It's fortunate that the rest of the band was so interesting that it didn't matter much. He never had any interesting fills. He just sort of "kept time".   

I’m a-bit above 50 and REM music was never "tasty" on my listening plate, because they’re extremely boring on each and every track they’ve created. Their marketing was fantastic though, because they were able to sell feces for diamonds. Therefore overrated is a lot more precise word, then uderrated.