As a MAX rider I agree but the streetcar is not at all overestimated in terms of the ecodev boost as it has helped transform downtown, helped tie it together and the investment interest now in Midtown is showing a boost specifically because of the streetcar. Hotels now build with little to no parking, wouldn't have happened w/out streetcar (and Uber combined). And there will still be many who will want to live along the streetcar line, not necessarily because they'll prefer it over MAX (bus haters will), but because so many amenities are along the line. It's more like a free horizontal elevator to different amenities.
However I'd like to see a true express MAX line overlay most of the streetcar line, or one along Broadway through Midtown and use streetcar for local use and tourists. Midtown would continue to get some downtown spillover if no streetcar expansion but the expansion will significantly boost Midtown development, magnitudes more. And a line that is under 10 miles will densify contiguous TOD than if building a 60 mile line out of gate, which would only promote commuter sprawl.
If anything, you're underestimating the significant role the streetcar is playing for downtown/midtown transformation. But the next step for KC to attract bigger ticket national developers is to get bigger ticket jobs, and a major university helps draw/maintain big ticket jobs.