I'll throw my hat into the ring. I don't know if Jersey is overrated or not. I have never felt a need to immerse myself in water that cold. I can say, however, that some of the most arrogant, rude and all-around unpleasant tourists I have had the misfortune of crossing paths with have all happened to be from the NJ area.
This is the case both on and off the water - so it doesn't just seem a surfing phenomenon.
I've only met two chill NJ surf tourists in the last three or four years, and they happened to be longboarders.