Richie's not that much underrated as a guitar player. It's acknowledge that he is good by his peers. He just didn't bring as much to guitar as did others like Jimmy Hendrix, Jimmy Page, Eric Clapton or Eddie Van Halen to name a few. And he'll never make legend like them. Maybe because he couldn't do it through Bon Jovi, but he didn't do it in his solo records either, even if the guitar parts are great, there is no real guitar "revolution". He's got good technic and a great feel, especially on the acoustic where he might have been better rated if he had had the occasion to play it more. I wish he'd put out a bluesy solo album with electric and acoustic, and his "soul" voice.
To me he is not underrated as a guitarist, but as an overall very good singer/player/song writer.
Ponrauil
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