What does using Waze have to do with ignoring road signage?
I do think Waze users are self-selecting. People that are willing to take "short cuts" choose Waze. I often ignore Waze's suggestions and have had people in the car with me comment on the extra turns and backroads.
There's a certain type of driver who prefers to mostly "tune out" and take the most direct route versus someone who wants to get there with the quickest ETA even if that means a more complex route.
I image it looks at a combination of speed limit, current traffic and then if the historical data is faster than the speed limit it discards the historical data.