While I agree with the intent of the poster’s assertions, his opinion is based on things he has read, not personal experience.
As someone with personal experience, there have been times (not always) where attraction capacity has been halved during busy days. A shortage of labor - whether intentional or not - is real. Genie+ does increase standby wait times more than FP+ (again, lots of personal experience).
As for Peter Pan (or any attraction) a ride breakdown compounds the problem. We got in line for PP recently (during parade time) when the posted wait was 35 minutes. Our actual wait was well over an hour, due to ride being down at some point earlier in the day and all the guests with LLs (that they couldn’t use during the temporary closure) showed up after the parade.
So while wait times can be inflated, we’ve also experienced the opposite. And not just at PP.
I hate Genie and would prefer standby only, everyone with equal access.
But greed no longer allows that.