They are definitely being underrated. I'd put them under the Rams but it's close. However, I don't see how Seattle is a better team and I've seen almost every ranking have the Seahawks ahead. Some even see the Cardinals as challengers.
I think the NFC West will go:
Rams
49ers
Seahawks
Cardinals
With possibly the top 3 making the playoffs. Even if Trey Lance isn't very good, Jimmy G is perfectly capable. Mostert staying healthy would be a huge boost as well.
There aren't many great teams in the NFC right now. Basically TB, SF, LAR. Then a bunch of pretty good teams like GB (who are frauds), SEA, WFT (iffy on this one), maybe MIN? My main point is that the Packers are frauds, Aaron Rodgers is a miserable ******* and I can't wait till they are in the toilet.