Via comparison of the solutions, we measure objectives and actions performed and the time it requires to do them.

Objectively, Minecraft is a game, an objective of many games is to waste time, therefore this cannot be used as a measurement, but enjoyment is. as a game it fulfills its role. wastefulness could be classified in comparison to other solutions/clones, like minetest. If minetest fulfills exactly the same goals with less action as minecraft, then minecraft is in comparison wasteful.

Another measurement is mining solutions can we achieve the action of mining with less compute? can we not mine at all? does not mining achieve the same goal? if it does, then mining is objectively wasteful.

The objective of crypto is replacing fiat currency, it does not do this, therefore it is wasteful. Of course, this is only true until it does replace it, which is why we must compare, would this cryptocoin scale to the entire world? does it require more work for it to do so? if so then it is wasteful.