I’m not sure faceoffs are overrated, but they are certainly not the be all end all. I did a study a few years back for the team looking at like 10 years of faceoff data, maybe 750,000 faceoffs. Please indulge me while I relate the following kinda cool story that discusses the value of faceoffs.
The issue we had was, Claude didn't trust anyone else on the team on face-offs in the DZ, so Bergeron was taking the majority of draws in both the OZ, because his line was the most potent offensively, and the DZ, as Claude wanted the puck back. This of course led to Bergeron playing way too many minutes and losing effectiveness in 3rd periods.
I took a look at the effect of faceoffs on goals, specifically examining how many goals are scored within X seconds of a face-off. Simplistically, what I found was for every 50 (not the real number, but good enough for this) OZ or DZ faceoffs won more than lost a team would score or allow a goal. At this point, Bergeron was winning ~60% of his faceoffs, while Krejci was at ~50%. Running the numbers, I found the difference between Krejci and Bergeron taking 200 DZ faceoffs would be less than 1 goal, and that having Krejci take more non high leverage draws in his own end would be a "safe" way to reduce Bergeron's TOI and increase his late game effectiveness.
Claude, Donnie, and Cam all were on board with this idea. The team was on the road, and I was watching their next game at a bar in Allston. I was psyched to see Kerjci in for a DZ FO in the 2nd period with the Bruins up a goal. Anyway, predictably Krejci lost the faceoff clean back to the point, where the defenseman took a slap shot that was tipped in for a tie game. Ugh. I turned to the person I was with and said, "I am going to get fired." I mean, I could hear Cam from Allston screaming "1 in 50!!!" Indeed, I dd hear later from Donnie that Cam was pretty upset when that happened (an understatement), and he didn't hesitate to let me know it the next time he saw me. But by then he was calmed down, and his ball busting was done mostly in jest.
But, to the team and Donnie's, Cam's, and Claude's credit, they did not stop using Krejci on DZ faceoffs. And nothing horrible happened after that unfortunate event. We got Bergeron's minutes down, and he was fine in 3rd periods thereafter.