There is a lot--A LOT--of good quality work out there about PMS/PMDD. Time magazine is not an authoritative source. Dismissing a phenomenon as exaggerated or unreal because one has not experienced it personally is neither fair nor scientific. Finally the fact that PMS might--might--be less prevalent than formerly thought does not diminish its impact on those who do have it.
Epidemiology:
Menopause International
Pathophysiology:
Menopause International
TA I also experience cyclical mood changes. At a minimum I feel more sensitive and tearful, at worst I can feel totally despairing. Certainly the symptoms are worse when I am having a difficult time in general but the fluctuation is actually most noticeable when I otherwise feel fine and then there's a sudden feeling of despair that seems to come out of the blue.