I agree that they were over-rated, but the (completely unexpected) success of Nevermind is undeniable. It was huge, and was an earthquake that changed the music scene at that time.
Not unlike The Knack, when “Get The Knack” killed Disco dead.
Still, I don’t see The Knack in the Hall of Fame.
Hair bands werr on third string talent by that point. The scene outlived it’s welcome. Considering it had a 10 year run, a new generation looked on it as ‘old’ music. And by the 90s it sucked. And I say this as a die hard hair band/metal fan.