Just because his songs are addressing issues about something that isn't 'love, love, love~~' doesn't mean it's necessarily 'deep'. To me Ed Sheeran doesn't have the lyrical prowess of artists like John Darnielle and Sufjan Stevens, but that's just me.
I find him a little bit over rated. I agree, yes, he's a very good singer/songwriter, but I don't think there is much hidden, he gets straight to the point. You pretty much know what he's on about after the first two lines.
A little over rated is Rihanna, Nicki Mianj, Justin Bieber. Ed Sheeran? Well I don't listen to him, but I don't hear much of him. But I wanna live in a society where folk music is so popular, that you can call it over rated.