That's yearly planning. If estimation means giving your best effort to complete a project over the next year then that's not a problem. When you start micromanaging on a biweekly basis with daily status updates then it becomes a real problem.
I'm sorry, I can't imagine any business anywhere that would allow all software project estimates to have a precision of "about a year".
We might prefer that our projects be given unlimited leeway, but we still have to fit within businesses and their ability to forecast what they can sell, when the next round of bugs will be patched, and even how many developers should be hired.
Estimated is hard, leadership often fails to understand how hard it is, and it should always be accepted with a bunch of caveats, but it _is_ a very useful tool.
How long does it take to fix a Linux kernel bug? Anywhere from a day to 20 years to never. It's either done as soon as possible, or it's done when it's done and that works for the best software projects.
Estimating is not hard, it's snake oil. That's how you end up paying $100M for burndown charts and a government website that doesn't work.
