Maybe you know more about bus timings than the TfL website (?), but I'd still take it as a fair benchmark for public transport information...
In this specific case, 24 minutes is not a realistic approximation of the journey time between Denmark Hill and Victoria in the morning peak. I might be missing something so can I ask GodAtum, how did you arrive at the conclusion of 24 minutes travel time for the journey in the morning peak?
I've just had a look at the TfL website inputting 08:00 tomorrow as the time of travel and it states the journey time between Denmark Hill Station and Victoria Station using Route 185 is 42 minutes between 07:31 and 08:50, which is a more realistic estimate.
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if you factor in the other 3 routes which stop outside Denmark Hill station during the morning peak, the 176 and 484 will also be packed, however Route 40 starts from Dulwich Library which would give the most likely opportunity for space on a bus. For those passengers who live close to DH station, Camberwell Green is a short 5-10 minute walk with regular services to Victoria.
Regardless of which mode of transport you use in London, they're always going to be packed. Who hasn't been been able to board the first service on the tube or NR during the morning peak due to delays. The same happens to buses.
During the morning rush hour, the 40s also reach crush loadings by the time they reach East Dulwich station. It's pot luck whether or not you will be able to board a bus when it turns up, even with 4 routes running along that stretch. The Tubes are often packed, but at peak times at least they tend to have a headway of 1-3 minutes over the busiest sections and are efficient people movers. Buses are somewhat less frequent and slower.
The point I'm making is, the 185 can hardly be considered to be a like for like alternative for the loss of a half hourly four carriage train service in the morning peak, when it takes 5 times as long as the train and has capacity problems of its own. Only someone who has no knowledge of the transport issues in the area would suggest that pushing people onto buses on roads that already can't cope with demand is a solution.