It's hard to say, seems like it's totally personality dependent.
Some people way overvalue situations, some undervalue. A lot do both at the same time!
Imagine someone who will call all-in with top pair, top kicker or an overpair but never consider that the villain may have flopped two pair or a set. The same player might very well overfold in other situations if they purely consider pot
odds and don't think about implied odds, the fold
equity they may have from
bluffing, or the fact that they could even be ahead at the time.
I believe I've been undervaluing things mostly, playing very "face up" or fit/fold. I'm making a concious effort to disrupt that pattern.