Yeah, I do think people not only overrate picks in general they also forget that the picks have variable value from year to year. If a GM is looking at this draft and thinking it's weak and full of lottery tickets rather than sure-things, then the 4th is less valuable in a year with a deeper draft. And defensemen are finnicky and notoriously hard to project.
I personally don't like the trade for Chicago because I think Byram is not the answer to their woes, but, if they're really convinced he is, then good for them I guess. People here have been going on and on about how we need to draft defense because the cost is prohibitive to acquire it in a trade, but this is precisely why it's expensive: a defensemen drafted at 4th overall is not guarenteed to end up as good as Byram (certainly not as good right out the gate), and Chicago is probably starting to feel some heat that they're still completely in the toilet year after year while teams like us are starting to get better and better.