I don't know why you were downvoted. I believe you are making a valid point. The internet didn't invent wasting time, it just is better at convincing you that you aren't.
Most "normal" people waste the majority of their leisure hours, depending on your definition of waste. The audience here, however, is not typical.
This audience is not atypical with regard to time wasting. (It is typical).
I'm 'wasting' time right now skimming this article, reading this thread, posting a response about how i'm wasting time right now.
The difference is that I think it is interesting to read about failing software startups with billions of dollars invested in them. So it is atypical with regard to subject matter. I have no interest in american idol or tom cruise or Oprah or glen beck.
I also find that I am most productive at programming when I approach it as a fun game that I am 'wasting time' at.
Most "normal" people waste the majority of their leisure hours, depending on your definition of waste. The audience here, however, is not typical.