I disagree that chess is a waste of time. Whether chess is a waste of time or not depends on the person itself and what he/she intends to achieve in the field of chess.
I am a hobbyist chess player with zero intentions of going pro in chess since I already know that it is impossible to make decent money until you reach 2700+ FIDE.
Chess is a recreation for me and I just chill with chess. Some others chill by watching movies, music, Netflix etc. I just chill using chess and music 
Definitely, NOT a waste of time. Again spending lots of time on the game with no intentions of going pro in this game IS considered as a waste of time by me.
Limited amount of chess like 1-2 hrs a day is ok for me. More than that and I begin to think that I could be doing something else.
Ultimately, the question has to be answered by the person himself. Only he can answer for himself. Nobody else can.
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