That is the estimated time based on the oldest ticket in the system. That is not specifically your ticket time. The estimate will fluctuate as tickets pour in and are solved, but you have your place in the queue, no matter how long that estimate is.
They have been. Live chat support has been disabled for the time being so that all ticket-responding GMs can focus solely on tickets. Our SFAs here have been helping too, having been given special dispensation to help in specific circumstances such as clearing out any issues interfering with taking advantage of the free realm transfers - that thread alone has negated the need for hundreds of tickets by this point, heck, it could be in the thousands by now. They’ve also been helping with the forum appeals and such.
They’re doing their utmost to try and whittle this down, but they cannot control the issues that arise when massive ban/suspension waves suddenly sweep through or some crazy bug pops up unexpectedly after weekly maintenance.