Well no. As a passionate Laker fan who suffered through a childhood of playing second fiddle to the Celtics, only relieved in 1985 ( we have mostly dominated them since then), I do not underrate their championship run. If anything it is overrated in my mind, like the monsters in the closet of my childhood bedroom.
Auerbach was a great, if complicated, figure in the early NBA (a sentence the adolescent version of myself would never have allowed himself to type).I have reasons that I think valid (though have to admit my bias) for ranking him no higher than #4 on list of great NBA coaches, behind (in no particular order at this point) Phil Jackson, Pat Riley and Greg Popovich. The reasons have to do with the differences in the NBA between the vintage and modern period, in terms of number of opponents, number of miles travelled, and full diversity among the players, and to some extent the rules of the game. Basically, it was just a lot easier to win an NBA championship in those days (this also applies, even more, to Kundla and those championships Laker Nation still claims from Minnesota, which were won I think all or most before the 24 second clock).
Similarly, while a great figure in the early MLB, I would not really rate someone like Joe McCarthy as the best manager in baseball history.