No. A case could be made that the rest of the team was overrated because of him.
This can't be repeated enough. The best forward on the roster between 2004 and 2012 not named Iginla was Daymond Langkow. Think about that.
The defense was always a bit over-rated. Robyn Regehr was very good though. I don't think Sutter deserves as much criticism as he gets for being GM, but I will say that one of his most under-discussed moves is the gift-wrapping of Tony Lydman to Buffalo. We would later sign Bryan Marchment.
Kiprusoff was a truly sublime goaltender. When you cook up a goalie in a lab, you get Kipper. His temperament, the way he moved, his glove, his ability to knock pucks out of midair with appendages not usually designed for that specific use... All of it is how we amateur goalies wished we could play the position.
He was also a criminally underrated puck handler. His hockey sense was incredible, so he'd never be put in a bad position when he went to play it. But Kiprusoff would stop so many pucks behind the net, and then make a calm, tape-to-tape pass to the open D. Forehand or backhand, it didn't matter. And he rarely made the wrong decision.
The downfall with Miikka was always Games played. His Vezina year, when he was still south of thirty, and had two weeks off because of the Olympics, he couldn't handle the workload. It was really obvious - there were three or four goals that Anaheim scored in the playoffs that wouldn't have gone in at any point during the regular season. And from then on, you could always see exactly when he started to tire out. After he played his 65 game, the rest of the year was going to be a mixed bag.
I always cite that Patrick Roy never played 70 games his entire career, and only once even played 65 his entire time in Colorado. It was baffling that Darryl never invested resources in a proper backup who could play 20 games a year and win ten. A fresh Kiprusoff in March would have been a game changer.
People in Calgary will often lament that the team couldn't win build a cup winner around Iggy. It's astonishing that they couldn't build a winner around Kiprusoff.