I think this is a way too complex subject matter, with way too many variables - not least personal taste - for us to ever reach a definitive, settled conclusion that we could all agree on.
But for me, if anything, most wines will live far longer, and indeed improve for far longer, than many expect or give them credit for.
From a personal perspective, I see well-aged, high quality Rioja as Spain’s one contribution to the pantheon of truly world class wines. But does everyone? I’m sure others have a view on that, but for my mind all the other contenders (pretenders?) to that particular accolade are predictable in their brilliance - perhaps I could use a pejorative word like Parkerized? - heavily extracted, big fruit, huge monolith wines (from Priorat and Ribeira mostly). Aged Rioja feels like it might fall to pieces if you so much as look it the wrong way. The two styles are almost irreconcilably worlds apart. Which do you like?
And take something like Madiran. It’s ageing profile is nothing like Rioja. It doesn’t ever demonstrably become a different wine to that which it was in it’s youth, it just relaxes a bit (it vary rarely loses much colour either). But I’d happily, and comfortably, sit on bottles of Montus/Bouscasse for 25 years or more, without fear of any sudden change for the worse. And something like Fronton, a wine always seemingly carrying the caveat ‘Drink Youngest Available’ will happily sit in a cellar for up to (and beyond) a decade and more and improve to something full of truffles and violets and garrigue. But do you like that in a wine?
And finally, to the point raised just above about ‘The French’. I’ve heard it said many times - indeed, I’ve been known to repeat the stereotype myself on more than one occasion - that they drink their wine young, but then that also seemingly doesn’t take into account producers who recommend long drinking windows on wines, who fetch out their old stock with pride for you to taste, or the plethora of fine restaurants with wine lists stretching back decades. Indeed, in St Emillion a few years ago (2015/16?) I attempted to order a 2005 off the list, and was kindly steered away from it with a knowing, slightly patronising glance, as being ‘far too young to drink yet’. So I think it’s like any stereotype, best taken with a pinch of salt.
So no, I don’t think we age wines too long. Let them sleep, you’ll thank yourself for it later