Have they given a reason as to why there is no queue?

[Vovoen]

I don't see any possible way it could be reducing the stress on the login servers to have players essentially DDOSing the server instead of just queuing people. Also, one of my successful login attempts was with "People in queue: 494," so it's not exactly a tiny queue, either. . .

Well its allot quicker and less stress on the server for people to just be booted instantly with a message than to handle them on a queue (besides you have to re-click start and your character so its not like there spamming every second.)

From my personal experience iv never seen a queue larger than 50 since they introduced the server limits before then it was there was a 700+ queue.