Ballyhooed is a word that describes something that has been praised or advertised in an exaggerated or sensationalistic way, often to generate excitement or interest. There are plenty of synonyms for ballyhooed that can be used to convey the same idea, such as hyped, touted, promoted, publicized, advertised, and marketed. Other words that could be used to describe something that has been ballyhooed include overhyped, overrated, and blown out of proportion. All of these synonyms can be used to describe anything from a new product or movie to a sporting event or a political campaign.