I agree. But that does assume you won't be productive with your spare time...
Also, productivity and a sense of accomplishment doesn't necessarily = happiness...though it may for some. A life enjoyed can be a matter of feeding the senses, non-stop, with enjoyable stimuli!
I think that everyone should try sitting on both sides of the leisure vs work debate and then decide. Work an overworked and highly paid job; be unemployed for 6 months. Preferably in that order. Then decide where the happy medium lies