Overcommit on itself is not necessarily a problem.
You have good and bad overcommit.
As long as there is no performance hit due to memory overcommit, I consider that a good overcommit.
The vCheck number on it's own is not a sufficient indicator to decide between good and bad.
You will have to monitor other things like memory swapping, ballooning,page sharing... to be able to decide between good and bad.
There are a number of articles that delve deeper into the overcommit issue.
Memory Overcommitment in the ESX Server
Memory overcommit in production? YES YES YES
In conclusion, you need more data to decide if memory overcommit is a good or a bad thing in your environment.