Clearly not everyone thinks that's the state of affairs. Roaring Kitty has clearly done quite a bit of research and thinks GME is undervalued. And if you believe that many of the folks on /r/wallstreetbets are being genuine, then they feel similarly. Time will tell. But there's certainly no guarantee that this is a "once in a lifetime overpriced valuation".
A retail company, who hasn't made money in 5 years, hit hard by a pandemic. Gaming consoles going entirely digital. "Common sense" here is not well defined when most of the valuation is because Michael Burry bought into the stock and Ryan Cohen joining the team.
