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Panama said:
The current hate for Carpenter is justified. This is coming from someone who has The Thing and Halloween in their top twenty, if not top ten list of horror films. It's like saying George Lucas is underrated because of Star Wars Episode V and American Graffiti.

Also what are the prerequisites for a Director to qualify as underrated?

At least George Lucas recieved huge praise for those movies and massive box office success.

John Carpenter pretty much got booted out of hollywood after the financial failure of the Thing and Big Trouble Little China which are two of his three best movies IMO. And despite that he made Prince of Darkness, They Live and In to the Mouth of Madness afterwards, on limited budgets, all of which were very good as well.