Overhyped, certainly, as it's performative puzzles get bogged down in inconsistency and technical difficulties.
After a box appears on your doorstep, housing a darling little frog-like creature, puzzles ensure in which you must feed the creature candy and collect the stars which are scattered about each brief level. The puzzle gameplay features simple physics-based gameplay, where swinging candy on ropes, floating it with bubbles, and eventually dodging grizzly spiders and spikes, are all par for the one-course meal. Or should we say 175 course meal - Cut the Rope currently features 175 puzzles, which is clearly a lot for your $1. The cute presentation is probably enough to keep your attention safely away from the game's problems at first, though they start to creep up as the puzzles increase in difficulty as new gameplay features are introduced.
First of all, the game generally lacks a sense of balance. The early puzzles tend to be far too easy, which makes them more of a pleasant distraction than interesting games. Later, the difficulty tends to land squarely on quick reflexes, as swinging ropes to cut them at the right angle to generate the right trajectory to hit your mark (etc.), focus more on performance than on thinking out the right solution - solutions tend to be simple through the whole game, it's the execution which becomes challenging as you play. The problem isn't performance, though - rather it's the finicky touch controls which tend to sink the later levels. There tends to be multiple touchable items on the screen, and the game doesn't always seem to be able to decipher a cutting motion from a touching motion, or a turning motion from touch, etc. Though levels can be skipped at any time (forsaking the stars therein), far too many of the legitimately quality levels are hampered by technical touch flaws. Nailing the execution can be challenging enough without the game itself getting in the way.
If you don't mind some mindless early puzzles and some technically challenging later levels, there is still some enjoyment to be had in the inbetweens. It's certainly great to see so much content for the price, and the increasingly complex puzzles are clearly the result of some quality craftsmanship. It's therefore unfortunate that the play just isn't as good as it ought to be.