For the people who didn't get a Fastpass, yes. However, it would be drastically increased for people who were previously using the FP system.
People can choose to get a FP and wait 5 minutes later in the day or get in the standby line and wait 30-45 minutes.
There is no math to support that hourly ride capacity is increased or decrease with the implementation of Fastpass, therefore the average wait time throughout the day remains the same per person.
The standby line does bear the brunt of that wait since they are "standing by" for a place on the ride, but that is a choice those guest made.
On topic, I would like to see Buzz overhauled with the free range guns and I
don't even know if it is possible but something to distiguish your laser from all
of the others.