Nah - if you've got people walking around within spitting distance of a matter/antimatter reactor which must be spewing out lethal doses of gamma radiation every second, meaning even a very limited failure of the containing fields (i.e., nowhere near enough to allow antimatter to escape and/or cause a full/explosive warp core breach - just enough of a secondary failure to allow a small portion of the high-frequency EM radiation generated to pass through) would mortally irradiate most of engineering very swiftly... well, there better be a DAMN good reason for not putting it outboard! As such, anyone working in Main Engineering couldn't telecommute. Nor could any engineer who works on stuff in-situ. And I doubt the quality of care in sickbay would be improved by dispersing the patients all over the ship, science labs work better by having them split up in people's quarters, the bridge more efficient if the captain's sat alone, etc.If you're going to spend the time & energy to replicate lifts on-demand, you'd be better installing a network of self-service short-range transporters all over the ship and skipping the lifts entirely...
Or you could skip the transporters and have the ship materialize the required controls, instruments and locations next to the user on demand.
And that's BEFORE you consider access to recreational facilities like holodecks.
Whatever way, you'd need to move the vast majority of the crew around the ship to some extent, even if a few could purely "telecommute" from their quarters. That's going to involve transporters or turbolifts, unless you just want to make everyone climb the stairs to get fit...
I'd go with the idea that they moved cars around the system based on where people were at any given time - so if it looks like someone is heading for the turbolift, the computer moves a spare car to that turbolift station so that it's there before they are, whereas any uncrewed sections of the ship are emptied of turbolifts - combined with having a certain number of busy stations (e.g., bridge) permanently stocked with one or more turbolift cars, with some less busy stations having cars pre-assigned in a similar way only at certain times of the day, based according to prior usage patterns.Plus, replicating turbolifts on-demand (a) wouldn't solve the waiting problem - it takes 5-10s to replicate a plate of food or equivalent, already longer than the usual turbolift wait, and presumably would take longer still for something larger & more complex and (b) would open the question of "why bother with turbolifts at all". If you're going to spend the time & energy to replicate lifts on-demand, you'd be better installing a network of self-service short-range transporters all over the ship and skipping the lifts entirely...
They wouldn't necessarily need to materialize out of thin air like the food, but I think there must be some way that they could have enough cars and a logistical situation that would allow them to always have one waiting at every entry. I mean, if they have 300 years to work it ("it" being the essential concept of the elevator), then you'd think they'd be able to solve the waiting problem in that time.
Think of it this way. If we started from the standpoint that turbolifts didn't have a wait, would you be able to come up with a convincing explanation for how it could be done?
Given typical patterns across Starfleet built over time and refined according to internal ship records, they'd be able to match supply and demand to 99+% accuracy - with a bias towards false positives (i.e., having a car ready even if no-one ultimately enters it) over accidentally making someone wait possibly resulting in no waiting at all.