Because we're lucky enough to have gone/go yearly, & we do some rope drops (not EVERY day though) & use the FP+ system to do the rides with the typically longer lines, so it makes things manageable. Even with this, we go at a busy time, (T-giving) so there are longer waits, but we manage to avoid the super long ones I think. But depending on the ride we think 20-25 min for the smaller rides and 35-45 for a bigger ride is 'typical' & do-able that time of year. (The lines are shorter earlier in the week) When I see the ppl standing in a 2 hour Splash Mountain ride at 2:00 I cringe, there's no way my feet could do it! If we saw hour waits we'd be a "pass" or "come back later"... But we If we didn't go as often, I'd be willing to wait in longer lines of course.
I also think they often over-estimate the ride line time. My totally unsupported theory is that they do it to keep people happy & give a cushion... (No one complains if the wait said 45 min and only took 35... but if it said 45 and took an hour? Totally different!)