Hype is oddly lacking, I agree (3)
I believe the answer is:
yes
'i agree' is the definition.
(both are affirmative answers)
'hype is oddly lacking' is the wordplay.
'oddly lacking' indicates alternate letters.
'hype'+'is'='hypeis'
The alternate letters of 'hypeis' are 'YES'.
(Other definitions for yes that I've seen before include "Positive reply" , "Of course" , "Aye" , "Positive response" , "Affirmative response" .)