They're way over rated usually
No, they are not over-rated. They are sought out by top players because of their solid, consistent playability.
heavy plain jane design,
No, most of the cues built are the classic 6-point design that SW made famous, and so many others have tried to copy, but they are not plain, IMO. You can have one built pretty much however you want it, but you will need to get your checkbook out.
and not worth what they get for them.
The market sets the price for them. They are what they are, and bring whatever the market says they will bring.
There is hardly any work put into them
There is a TON of work put into them. I have visited SW cues a couple of times. They do everything the old fashioned way...no computers, no CnCs...all hand-built...the entire SW "factory" consists of 3 people who have been there forever.