Not true at all. There are many people - men and women - who truly find her beauty to be terribly overrated (and, truth be told, it is). At any rate, she isn't a timeless or a classic beauty.
Perceptions of female beauty and the feminine physique change over the course of time. She really isn't conventionally pretty at all in the slightest, and half a century ago when people were worshipping Monroe and Hepburn and Kelly, Angelina would have found it very difficult to have made it.
Her masterstroke was that she successfully parlayed her looks, insouciance and unqualified disregard for conformism into a tantalising larger-than-life persona. She's also been very astute in choosing roles which were darn good vehicles for her looks. Once the legend of Jolie was created, the rest, as they say, was history. I'm quite sceptical if the media would've lapped up her "beauty" if it weren't also for her wild child image - if she were, for instance, a Mormon promoting abstinence, her beauty wouldn't have been quite as easy to commodify into Package Jolie.
Personally, I think she's intimidatingly beautiful, but I know a great many who don't think so, and I think I can completely understand why. Her beauty is very subjective, and can be interpreted as both ugly and mesmeric at the same time by different pairs of eyes.