I can understand and essentially agree with everything you said except your first sentence, and I'm not sure the rest of what you said does much to support your first sentence!

One point is, CS isn't the only area for applications!

E.g., in the software for my startup, sure, I have some matrix theory, right there in the code, but it turns out the matrix theory is what is left for the actual code after some earlier derivations very much in calculus!

When I was a prof in a B-school and teaching linear programming, right, awash in linear algebra, I mentioned to my students, all of whom had had the required courses in calculus, that I regarded it as a "pillar of Western Civilization". I still do.

Without Newton's second law, Maxwell's equations, etc., I strongly suspect that Western Civilization would be a very different and much less good place.

E.g., my father in law eventually slowed down his farming and got a job in town. He was head of the REMC -- Rural Electric Membership Cooperative. So, it was the local electric utility. They handled only the last few miles and bought their electric power from the grid, really from one private power company.

Some of his customers were factories, and at one point he asked me why his engineers put large capacitors outside some of the factories. Well, I'd been a ugrad math major but, except for one course I wanted instead of another that would have been required, also a physics major, and had done well in ordinary differential equations, so had see the differential equations of basic passive AC circuit theory, that is, with resistors, capacitors, and inductors.

So, sure, the factories had a lot of big electric motors with a lot of inductance. So, the utility pushed current to the motors but half a cycle later the motor pulled more current. So, net, the utility was moving a lot more electrons than necessary to deliver the power it was getting paid for and, thus, was getting more power losses in its lines. So, put a capacitor just outside the plant, and then the plant looks like a pure resistor to the electric company and all the extra electron moving is just between the motors and the capacitor just outside the plant. Ah, applied calculus!

There are many more such examples; the examples say that calculus is really important but don't really settle your question about "overstated"; for that question, I don't know what to say!