On some level yes, but ultimately the worst cases of poorly invested time make me learn to spend my time better, so it wasn’t entirely wasted - I like to think of it as a learning experience.
What I am more concerned about is subtle time wasting, sprinkled all throughout daily life in the form of various technologies and media mainly. It’s so hard to get a feeling for how much time you are really spending there and it’s even harder to escape it.
Then perhaps a better phrasing is “may be the only way to feel warm and get to sleep”, even if it doesn’t actually warm you.