How long will it take to implement feature X?

I came across this article. I'll jump to the end and quote his conclusion:

Estimates – as defined in the English language – isn’t really the problem here. The problem is when estimates are treated as predictions, deadlines, and used to put pressure on developers who are just trying to do their jobs. Estimates – the way they are used in our industry today – hurts people and reduces the psychological safety in our organisations. I believe we would be better off if we could work in a way that allows developers to be transparent and continuously communicate updated estimates as development progresses.

What do you think? How can estimates be realistic? How are estimates done where you work? Agile, e.g. Story Points, planning poker? Or more formal software costing, e.g. COCOMO, Function Points?

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