Well, yesterday I decided to give it a try...my experience in resume was, 3 minutes played in 2 different matches (because in both occasions the match was in progress), and more than 25 minutes waiting to find each one of them. 4 deaths, 2 Kills.
Shame because I wanted to play something different for a day but I felt that I was wasting my time.
For me waiting for a match in any game like a shooter or something is not so bad if it works fast enough. For the record, I played Battlefield a lot but once I played Planetside 2 (in where you never have to wait to play because there is no matchmaking at all) I never went back (aside for its epic scale battles). I still play some other games with matchmaking but since there is nothing more aside from that waiting never feels like a waste of time. In Elite we have the whole Galaxy waiting for you aside from this mode.
For sure the lack of players in that mode is what make the waiting times so long, but also those few that were playing in my matches at the end leaved instead of waiting for the next one... If people do that is not fault of the game, but matchmaking overall can work a little bit better with those few that are playing.
At the end of the day I don't care that much for CQC in all honesty, but now I would like to see some more of it. Sure will give it a try once the hype from the new expansions goes down. (if it ever goes down...lol)