It depends. You can look at any instrument and find musicians who are underrated and overrated. I don't think people appreciate what bass brings to a song. The irony is that when people dance, tap their hand, tap their feet, bob their head, they are almost always doing so to the bass line. Bass is the link between rhythm and melody. The bassist has to keep time and be in key even when the bass line is not following the guitar or keys. When non-musicians have asked me about the contributions of each instrument in a song, I've always explained the song as a living, breathing thing. The vocals, guitars and keys are the personality. The bass and drums give the song life. They are the pulse.