I hate to be that person who brings down what people thought of something, but the hype on Squid Game REALLY is the easiest and clearest example of what the word overrated means.
In one hand, I'm happy that the netflix bloom of kdrama actually brought out so many themes that probably won't even close to air on tv (Extracurricular, squid game itself) but as we all know how dramaland works sometimes they see a success in a drama then overused that theme (Sky Castle, Penthouse then followed by countless pointless dramas with the theme; World of marriage then
followed by so many dramas centered around affairs). As for squid game, I do hope that it widens the perspective that writers can get more creative with what they did but not exactly following their theme because honestly... i think one squid game is enough.

On the other hand.......... I hate to say it...... but honestly....... I don't see how squid game is entertaining in any way kdramas has ever entertained me (I'm not talking about bright dramas I mean Forest of Secret entertains me, Signal entertains me). I literally found no fun in squid game in ANY aspects. And honestly it's unfortunately if people watch squid game and think and it's what kdrama is supposed to serve. No.... Kdramas are much more than that and they're not only 'good' when they're trying to be edgy. There are a lot of sh*tty ones, but there are also a lot of great ones, be it romance, comedy, slice of life, something unique that I honestly think (as somebody who also watches a lot of western series and movies) western production could never replicate.

And last but not least....... I do hope the hollywood awards spotlight on squid game doesn't make people expect so much from squid game just to be faced by what squid game is then ended up thinking it was indeed overrated and would never come close to any kdrama ever again..... Because as much as i love the grandpa..... him winning golden globes (well yeah, golden globe is a mess) over (well i haven't watched the other nominees) Kieran Culkin in Succession..... is somewhat.......... frustrating personally for me.........

Some great comments here! I'll say K-dramas have always been popular esp. in Asia where its mainstream. However, I'll say its more what Netflix has done to push/introduce audiences more to them that has changed the most. Their marketing team, money they've, resources, globalization, & social media have helped K-dramas/K-content reach a larger audience then they would've never reached back then. There's a reason why Netflix put over 500 million $$ into K-content last year alone, & b/c it helps them with their subscribers grow. I think Squid Game has helped K-dramas/K-content get more recognizability in terms of awards season amongst Hollywood. The main cast of Squid Game all signed to big Hollywood agencies.

For me, its not saying one is better than the other, I think that we're going to see a lot more OTT services do K-content (Like Apple+), and more co-productions between different countries create content. I know CJ E&M (Who have done CLOY/Hotel Del Luna) have invested/stocks in these Hollywood companies so I forsee a lot of remakes unfortunately :/. I would love to see some of my favorite foreign actors work with Korean talents. Side note: Park Chan Wook (famous Korean director) is working with HBO, so I also see the director of Squid Game also work on more international projects. Basically, has it changed K-dramas completely hmm yes/no?! Yes, in that they're finally getting acknowledgement from a global audience in big awards which is great. No, in that Squid Game had the right timing, luck, & situation where it slowly built up to become this global phenomenon.

Even after, I saw many say Hellbound/The Silent Sea was going to do that but it hasn't. I think more creators will create shows with international audiences in mind now. And more and more will have to be careful not to offend foreign audiences. There's still issues, ahem Penthouse, and even in Squid Game there was a rather alarming scene that painted the gay guy in a bad light. So Korea still has ways to go when it comes to content (racism, homophobia, & such). Even Kim Eui Sung is working in an Apple+ show with Anne Hathaway/Jared Leto, so I see Korea becoming the new China in the sense of Korea being the Asian country in media that's creating hot content.

Overall, these were very thoughtful comments. I really enjoyed reading them--they made me really consider this issue. In fact I add on only because I know that this particular discussion has passed its expiration date and no one will pay my remarks much heed. (I do think there is something to the argument that the Internet speeds up and intensifies reaction time, but also shortens the public attention span.) So I'm really writing for myself, here.
The issues that I think are historically constant, and can be traced back to the 1800s emergence of popular culture are 1. fear that globalization will undermine local distinctiveness. 2. That capitalism will "corrupt" a unique art form 3. That depictions of violence and or sexuality will undermine public morality, especially that of young people 4. That technology (in this case streaming, Internet based) will overwhelm other more creative, human impulses.
I know all these are pretty heavy considerations to lay upon a single television show, that, in my opinion, wasn't that ground-breaking, but I think that this discussion is occurring in relation to this show is a tribute to the complexity of Korean popular culture and Kdramas in particular. (and there are similar discussions that go on continuously for U.S. pop culture, which I know best.) That's why I'm not that worried, in the end, about what will happen in this realm of human activity--sure it will change, but it will also persist, and I think it will persist in a nationally, or at least a regionally unique form, as long as the main practitioners are from a certain place.
That said, there are other areas of human activity across the globe that I AM deeply worried about right now, and thinking through k-dramas--even through rom-coms, my favorite genre--might be a helpful way of dealing with those concerns, whether they appear on Netflix or not!