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Nichijou was ahead of its time. but 15 years is a lot of time in which manga authors have caught up, or absorbed the potent parts of Nichijou into their own works, and on the anime side the budgets on hit series are wayyyy higher now.

Nichijou is underrated, in terms of its impact, and of what it was. but Nichijou is overrated, in terms of how it would stack up against the competition if it had been released today. but that's coming from an English speaker: i hear the amount of humor which "doesn't translate" is reallly high for this one.