I'd say things are pretty much what we'd expect - some Magic Kingdom wait time stats courtesy of thrill-data.com:
- LAST FRIDAY IN FEBRUARY 2021 vs:
- LAST FRIDAY IN JANUARY 2021: +46.0%
- LAST FRIDAY IN FEBRUARY 2020: -23.6%
- LAST FRIDAY IN FEBRUARY 2020 vs:
- LAST FRIDAY IN JANUARY 2020: +48.8%
- LAST FRIDAY IN JANUARY 2021 vs:
- LAST FRIDAY IN JANUARY 2020: -23.2%
So we see that on both the last Friday in Jan and last Friday in February of this year, wait times are down 23% vs. the prior year - this is probably due to a combination of no FP+ (which helps standby lines move faster) plus reduced ride capacity due to social distancing (which hurts some standby lines).
And we see that the last Friday in February wait times increased by 48.8%
last year over the last Friday in January last year and so far today they are up 46.0% over the same Friday this year.
Of course this data could change as the day goes along - they only have about 4 hours of data so far - but I think we are often confusing "FEELS LIKE" with the actual data. I have a friend there this week who was also there back in late January for a week+ (the same week we were there) and they said it's slightly busier FWIW. And it probably should be slightly busier because crowd levels the last week of February historically are about 20% higher than the last week of January.