I reckon most experienced coders can cope with estimation when it's justified (i.e. "can we realistically get this done before <specific, real and externally-imposed, deadline>? And if not, is there a useful subset we can manage?"). The bigger problems come when estimation isn't about keeping promises, but rather a part of some form of scientific management aimed at "getting velocity up".

There's also something of an uncertainty principle here -- more precision of estimation is possible, at the expense of increased expected timescales (partly due to padding, partly due to picking lower-risk approaches).