I couldn't agree with you more on this subject... but to me, there is a very fine line between 'wasting' and 'investing' time. And it certainly varies from one person to another. To me, having a break from work means to play a few games of table tennis with my colleagues instead of 'wasting' time and energy browsing through the facebook newsfeed... but for another colleague of mine, browsing his facebook newsfeed is actually the break he needs to be able to get done with his tasks more productively.
To me the nature of a particular action or habit is not what separates time wastage from time management/productive usage... The bigger problem is one's failure to assess what is actually helping him/her in the shorter or longer run, and what is simply yielding no result whatsoever. We should know ourselves to an extent where we have clear understanding of how our activities should play a positive role in improving our physical and mental strengths. Once we are able to do that, I reckon then we are on the right track.
Just a thought..