If you have never been to WDW, on this plan you will never see the parks because you will be too busy trying to get to all of your meals. Each TS meal takes about 2 hours out of your day (with travel time & dining time).
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That's not true at all. We never spent more than 1 hour-- except for HDDR. We saw more characters that we could count, heard some nice music, saw some fun shows and some amazing theming.
We saw everything in the parks we wanted to see. The only rides we missed in any of the 4 parks were ones we purposely skipped (Stitch, Kali Rapids) or those that were closed. We went on many rides twice and I don't think we missed any shows.
We did skip part of AK because I thought we could do a counter serve lunch and didn't book a TS. We walked into Pizzafari and it was insane. I couldn't even figure out where to get in line because it was chaotic and completely filled with people. We skipped walking through one of the walking tour areas (with the tigers) because we'd already done everything else and didn't want to fight a mob of people for a sandwich and the walking thing didn't seem worth staying in the park for.
Maybe people going to the 2 credit, fancier restaurants are spending 2 hours at each meal, but they wouldn't be doing that 3 times a day anyway.