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To say that something is probabilistic is to say that it is not deterministic, that it depends on random events. That's what Einstein had a problem with.
He had no problem with physics following statistical laws, provided the individual variations could be explained in a deterministic manner. That is, if half the photons in a particular experiment went one way, and half the other, there must have been something different about those sets of photons in the first place.
As for Einstein being overrated... when I can get my mind around General Relativity for more than a half-second or two, I might consider the possibility. Until then I'm probably not qualified to judge.
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