Depends on what you mean by overtuned. I suppose that for frigates SO is probably overtuned since it is nigh mandatory for your non-phase frigates to do anything at all in the late game. For a cruiser the dissipation increase and speed increase in no way compensates for the loss of range, you generally are paying to cripple your ship and end with a ship that would deal good damage at close range if it ever got there. Maybe it works with the Aurora but even then I am skeptical, that ship looks like with an SO build it won't have the DPS or endurance for the most difficult fights in the game. For destroyers I am uncertain, maybe it is good for Manticore (LP), but are there more examples. I would certainly much rather bring an Enforcer with range than SO to an Ordo fight. The latter will just explode accomplishing nothing.
Edit to add: this can all be summarized as, frigates need the speed and dissipation late game, since they don't have the range, damage or endurance, so SO is mandatory. Destroyers have decent damage anyway, can't dodge and can't take the return fire so they'd rather have the range and SO is probably bad. Cruisers can't do anything with 450 range so SO is certainly bad. And sure, you could talk about the earlier parts of the game rather than fights vs the strongest fleets, but then, the objectively strongest strategy for early game is complete missions with a single Dram or smuggle with whatever cheap freighters you find, then go buy whatever you want, so it would make more sense to talk about fun here.
A decent fix for SO would be 1.5x flux dissip (if that is perceived to be an issue) and range reduction to 450/700/900 based on ship size.