I was told by a trainer that there are only about 100-ish seats left for standby after the dining package seating is accounted for, which is why they decided not to offer FP+ for the CP - pretty much nobody would get in on standby if they did. I don't know for sure that this is true, but it's what I was told.
As for the wristbands, I've heard that it will be "considered for certain popular narrators" but that wasn't from a trainer, just CM chatter.