Not true. I got a group last night through LFR (talking to Chromie) for the Outland wing. Queued on my rogue, the wait was only about 13 minutes.
The long queue times was the result of a bug forcing Healers/Tanks into the DPS role. Blizzard has fixed this as I queued up using Chromie last night and my queue was <10 minutes.
Long que times hmmm must have nothing to do with lack of players or those still boycotting the company. So sad they had to screw up this event and still not fix the problem at blizzcon.
Just give out the mounts and pets. No one should have to do that sorry excuse for content.