。
It's nothing major, but they use an unnecessarily grandiose way of putting it.
Literal
Big-deal thing [copula-ではない] [despite-のに] more-than-necessary pompous way-of-saying [copula-です].
A commentary on bombastic language. たいしたことではない ('it's not a big deal') downplays the content, while 必要以上に物々しい ('pompous beyond what's necessary') criticizes the delivery. 言い方 (いいかた, 'way of saying') uses the same productive ~方 suffix as 話し方 ('way of speaking'). のに ('despite / and yet') marks the contrast: the content is trivial, but the expression is overblown. 必要以上に ('more than necessary') is a useful adverbial compound.