It is quite common to see people confuse two concepts. One is proper weighting, and the other is the diver's relationship to neutral buoyancy.
When the dive is begun, the diver is wearing a bunch of equipment, some of which floats and some of which sinks. The "hard parts" of the equipment won't change buoyancy through the dive, but the "soft parts" (which include exposure protection and any padding) will. In addition, the diver is carrying somewhere between 5 and 10 pounds of breathing gas that he intends to exhaust into the water as the dive progresses.
So let's assume we have a diver in a 7 mil wetsuit, carrying a 100 cubic foot scuba tank, and wearing 20 pounds of lead. When the tank is empty and the diver is at the surface or in very shallow water, this diver, with his equipment, is cycling right around neutral while breathing normally. When the tank is full, he is about 7 pounds negative under the same conditions. Negative -- but not overweighted, because if you took off any of the lead he is wearing, he would be POSITIVE at the end of the dive with the air all used, and he would have difficulties holding a safety stop.
Now let's take this diver down to 100 feet at the beginning of his dive. His 7 mil wetsuit is going to lose a lot of its lift. I know some folks did an experiment a number of years ago, and took a fairly new 7 mil suit down to 100 feet to measure how much buoyancy it lost, and they came up with over 20 lbs. So our diver, who started the dive 7 pounds negative, is now 27 pounds negative! Without air in his BC, he will sink like a rock; but he still isn't overweighted. He needs quite a bit of lift in his BC to counter all the flotation he's lost from neoprene compression, and he might be in quite a bit of trouble if that BC fails, but he isn't improperly weighted. (He may be unwise, though . . .
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"Negative" and "overweighted" are commonly confused, but they are not the same.