Firstly, ILL launched today, so this is new. Previously, Disney did not offer the option to book a specific attraction for a fee, at least not for several decades.
Secondly, just because a policy is old, doesn’t mean it’s not bad. If Disney can make it so easy for you to give them your money for a service, they should make it just as easy for you to get it back if they can’t provide the service. You’re literally paying money to save time — it defeats the purpose of the refund if you have to expend substantial time retrieving it.