it depends. there are 3 types of hype,
1 Stupid unfact based hype
examples include the "ultimate defences", hiruzen being the strongest shinobi, kabutomaru hypeing himself, that sort of thing
2 Hype that is overated, but does not have enough facts about it to prove yes or no
examples tsukyomi only sasuke can break out of it. general stuff
3 Hype that has been pretty much verified
examples Hashi being able to defeat both ems madara and kyuubi. Juubi being much stronger than the bijuu.
some hype is factual, but for hype to be factual, it has to be verified by 2 sources or more.
I percieve that ninja a may have a skill set to beat ninja b, but will lose to ninja c.
that the only known strongest ninja, that beats all is rikudo sennin. He was strong enough to beat the juubi and then had his power as well. no person in naruto verse can come close to the raw power.