I have been coaching youth soccer since 2001 so i have some thoughts about the concept of “wasting time on sports.” I live in a community that has recreational soccer through the end of high school.
Not everything kids do has to be done with a view towards college admission. For the kids I coach soccer is an escape from the pressures of school. We have 1 practice a week and i hsve kids come even the night before big tests/projects just to take a break.
At the younger ages soccer is the vehicle by which kids grow in confidence, and build connections I have coached teams where players were part of different cliques at school and so would never interacted but because thhey were teammates.
Similarly, families in kindergarten know the easiest way to build relationships with other families is soccer. In some schools ovet 50% of kids in the lower grades are soccer players
I believe that playing a sport is just part of a balanced liife for people of all ages (i still play soccer 1-2 times a week.
Bottom line-sports have huge benefits fot kids (google and you can find the studies) that are hard to match with other activities.