Zynga games and slot machines are an easy target for because they are time sinks that aren't common in HN crowd. But imagine some outsider looking at your day under a lens and regulating how you spend your time.
What should be the metric by which you classify an activity as being "good"? Inducing happyness? I bet if you ask Zygna customers they'd all say Farmville is their favorite game. Productivity?
Should people be allowed to spend large amounts of money to buy cars they don't really need? Electronics?