I've got "Time spent playing: 17 days" on Lichess. Over a few years, so not too bad. But I feel it's worth it. It's not like it's all-consuming. Just a few games a day to relax.
Same when I played World of Warcraft in HS. Had probably multiples of that total playtime. I got "nothing to show" for all that time. But it was time well spent I feel. I had fun, and it's where I would hang and chat with friends during the evenings etc., so no regrets.
Entertainment is not a waste. Arguably playing a game like chess probably has mental benefits over other forms, so it could be argued that people choosing this form of entertainment over another is an optimization in and off itself.
Some people have days of time driving 4x4s, or sitting on the beach, or reading a book. Do you consider all of that time "wasted" also? (hint, it isn't, for that person)