More concretely in the field of software engineering:
Accurate, precise estimates are more expensive than the actual task itself.
If someone asks you "how long until it is done", the only reasonable answer is just as long as you've already spent, even if you're close to the end of the project. a "three week project" on week 3 will most likely take another 3 weeks, all else being equal.
Nobody has any idea, they're just making it up as they go along.
If you do the math, you're ahead of almost everyone. Most people won't do math to save their own life. Same goes for reading. If you actually read documentation or source code, you're in a very slim minority. Most people just google.