I swear I was doing book research when I stumbled across Up and Then Down: The Lives of Elevators, which I remember seeing and not reading when it was originally in The New Yorker. It's highly entertaining.
An over-elevatored building wastes space and deprives a landlord of revenue. An under-elevatored building suffers on the rental or resale market, and drives its tenants nuts. In extreme cases, when the wait becomes actually long, instead of merely perceptibly long, things fall apart. The Bronx family-court system, for example, was in a shambles last year because the elevators at its courthouse kept breaking down. (The stairs are closed, owing to security concerns.) This led to hour-long waits, which led to missed court dates, needless arrest warrants, and life-altering family strife.