As others said, it is not. We were there 2 weeks ago - here's what we did.
Hit Dragon Challenge first and rode it 6 times. The walk to get back in line was longer than our wait. We could have easily gone another 3-4 times without waiting for more than 1 car.
We were meeting our wives for breakfast though, so we exited and checked the phone which was in the locker. They hadn't left the hotel yet so we headed to Hulk for 2 rides and then rode Dr. Doom. They met us coming of Dr. Doom - It was no later than 9:30. So that's 9 rides in 1.5 hours (Try that at Disney!)
We didn't do Forbidden Journey as I'm not a huge fan of the ride - its ok, but doesn't (In my opinion) warrant many repeats in a single visit (we already rode it 3 times). But, we could have easily gone right to Forbidden Journey and done it without much of a wait.
What we did do (after an hour for breakfast at 3 Broomsticks) was Jurassic Park, Dudley's Ripsaw falls and Bluto's (6 times). We did all this before 12:30pm.
So many people go to Forbidden Journey first, and its just not necessary. If Olivander's is a must, that may be something to do first, but I am a strong believer that Dragon Challenge should always be first. It is the best time of day to get front row rides over and over. All 6 of ours were front row alternating between them. Even if we went right to Forbidden Journey following that, we wouldn't have had more than a 10 minute wait.
