A hobby is considered to be a regular activity that is done for enjoyment, typically during one's leisure time.
There's no need to get tangible real results from your hobbies for it to be considered a hobby, by literal definition.
A hobby is anything you do for enjoyment or leisure. Thus, reading and playing video games constitute hobbies.
Time you enjoy spending isn't time wasted. Not everything that you do needs to be productive in the sense that others find productive, just like not everything you buy needs to have resale value for it to be a good purchase.
For example, my hobby is buying and painting Warhammer 40K figurines. On a cost basis, I'm throwing my money away, and I'm not looking to sell the miniatures at all. So, there's no tangible result from this, other than I like table top wargaming, and collecting and painting minis.