A few things at play.
I guess it depends whether we're talking overhyped in general, or overhyped on VGC.
Generally it needs to be a huge game, which then underperforms quality-wise. The clear winner will be CoD, but we'll look beyond that.
It could be Uncharted, but with their last three games being stellar, I don't think Naughty Dog will under-deliver in a big way. Next up could be Halo, but the Beta has clearly been great so far, so this now seems less likely. Other options include The Order (but as its reception is increasingly cool, I don't think it will qualify), Tomb Raider, Quantum Break, Zelda or Gran Turismo (if it arrives). I don't think Bloodborne qualifies, its not a big enough title (and will likely be very good).
On VGC it would likely need to be a Sony or Nintendo game, there just isn't the weight of users to properly hype something up. Key candidates would be the Order, Bloodborne or Zelda.
Nothing this year will be overhyped like Destiny.