Regardless of the fact that you have to "walk there" at least one time to find the way point (so it didn't completely circumvent traveling and making the world feel smaller) and the fact that teleporting in rpgs has been a staple for years, the earliest I can remember is the Ultima series in the the 80s and 90s with the moonstones.

Hell in Ultima 6 you get the moonstone at the start of the game and if you knew how to use it, you could teleport to every major city without having to travel there ever.

What made that game more believable to me was that it was mysterious, it didn't explain itself in game or it's functions, and you had to map out where it would teleport you on your own (hell this game made 2 different written languages and made you learn it to read road signs and parts of the game manual and map).

Back to BG3, it is added to the lore that there are magical runes place in specified areas which allows teleportation. You have to discover it at least once.

There are times I don't use fast travel in games because the area I need to go to is between hubs, or I want to interact with a npc on the road somewhere, or if I am doing an escort quest and the game does not allow fast travel for the NPC because it would break the story/quest.

Other times I use fast travel excessively, because the game is meant to be played. I am over long loading times, and empty travel, or filler experiences. Gaming has become objective based for me, while previously it was discovery based. Every first run through of a game is still discovery based, but as I learn what I want to do, I just want to get it done without a bunch of buffers in the way.

So the question is: Are you playing the game to wander around aimlessly? Or are you playing the game to complete an objective?
One of those two will like fast travel and the other will not.