It's also true that most of our economy revolves around "time wasting" actives, especially with the Internet (e.g. google, facebook, youtube, amazon, ebay). But then look at most major inventions in the last 2000+ years, and almost all can be qualified as being used as distractions. (e.g. alcohol, religion, music, books, painting, cars, airplanes, telephone, movies, TV, VCR's, Tivos, phonograph, vinyl, CD's, sports). I wouldn't want to be in a world without such a variety of distractions.
The happiest people will be those that overlap their preferred distractions with their vocation.