At first, I thought that way. However, Google books has brought me this example:
I do not think it overstates the case to suggest that castle architecture came to be seen as quintessentially mnemonic in the medieval period. So I thought there was a possibility that it could be a progressive form of "overstate the case."
I do not think it overstates the case to suggest that castle architecture came to be seen as quintessentially mnemonic in the medieval period. This example is fine. Therefore so is this one. I do not think it is overstating the case to suggest that castle architecture came to be seen as quintessentially mnemonic in the medieval period.
So grammatically is it ambiguous? Or are you personally inclined to think that if anything, it may be more likely that the "overstating" in question is a gerund?
Am I missing some subtle point? No. I was just wondering if the "overstate" in "it overstates the case to suggest..." could be replaced with "exaggerate". So it is possible. Good.
In conclusion, do these below all fork fine as almost, if not exactly, the same?
It overstates the case to suggest... It is overstating the case to suggest... It