Seems like he's itching to play but Memphis isn't giving him the green light. Maybe they expect more litigation or want to avoid having the press interfere with the teams MOJO since they're doing well?
If he sits another month then does he switch schools, keep the commitment and try again next year, hit the G league, or go overseas?
Regardless of how dumb he may have acted...his talents are not being utilized and his stats aren't going to be nearly as good as they could have been.
Over-rated? Maybe. But he hasn't proven himself at the next level and I think many want to see if he's an elite college performer. His game is pretty solid and he seems to make those around him slightly better. He has a small percentage of low scoring games, games where he fouls out, or games getting blown out.