Meaning of "it's long past time to ..."

Saw a lot of such sentences (examples below). What does the "it's long past time to..." mean?

Example: It's long past time to ditch the use of the ubiquitous bulleted-list templates found in both Powerpoint and Keynote

Another common way of saying this is with the word overdue. In your example:

 Ditching the use of the ubiquitous bulleted-list templates found in both Powerpoint and Keynote is an overdue change.

Basically it means it should have happened already ... the sooner it happens the better ... there shouldn't be anything holding us back.

That refers to something that should have been done a long time ago. Another way of saying your example would be:

The ubiquitous bulleted-list templates found in both Powerpoint and Keynote should have been ditched a long time ago.