Would you also want to limit the number of people who could sign up for the wait list? And if so, would that be a percentage of the capacity or a fixed number? Presuming a limit, you might end up closing off the wait list too, so you’d probably want additional messaging around that.
And thinking about messaging…would you want to send one once the event has started to anyone still on the wait list, thanking them for their interest and encouraging them to come to other events?
And if you’re having an in-person event where travel time might be required, all of these messages would likely need to be sent prior to the event. So perhaps you’d want to be able to set that window per event (eg, event_start_time - window_close_in_minutes)?