Well my opinion is going to be unpopular I'm sure, but I get why they implemented this, I had suggested it in a post myself for A&E and was flamed.
I don't think Disney's aim is to be controlling but to attempt to make guests day more enjoyable because standing in a line for 3+ hours is not enjoyable and for Disney the happier the guest the more they spend and the more likely they are to return (and spend more) and recommend a Disney vacation to others (who will spend more)
I don't see it as removing the standby option, everyone has the option to ride, with a wait you just get to wait while enjoying other parts of the park.
The rides have always had a daily capacity, this hasn't changed that.
Why given the option of standing in line for 3 hours twiddling your thumbs or going on another ride, grabbing some food and coming back to ride would you pick standing in line?