Well technically Forehand or Backhand will have an element of topspin on it (unless hit incorrectly like an off forehand then it has sidespin). Even a good flat serve needs topspin...unless you're like 7' 9".
But in regards to a loopy topspin groundstroke rally, yes I agree it is overrated, but this is where the newest racquet technology has gone and will go further. They want to make racquets that give users the safest clearance over the net , giving them a bigger margin for error. They want them swinging out with confidence. If you want to hit flat bullets over the net like Andre Agassi or Mark Philippoussis with speed and penetration you can either buy an old school school racquet or read up on how to depolarize your current one. But remember good solid footwork and preparation is key because there is a much smaller margin for error.
Yes, we know it's all about the technique. But if your racquet collapses every time you volley..you need to add some lead to it...