It's funny how short our memories are. I can recall a time not long ago, prior to the Fast Pass option. If you wanted to ride an E-Ride, such as one of the mountains at MK, that type of wait time was standard, depending on the day and time. And that was just a few years ago (1999).
So, it's all relative. If it's something that you want to do and have the time...do what's best for you. We all do alot of waiting at WDW. From the moment we arrive at the airport; luggage, transportation, hotel check-in, checking out, restaurants, pictures, shows etc. What may be too long a wait for someone else, may not be for you.
Enjoy your vacation and time at WDW!