No matter what web enthusiasts and “real time” evangelists preach, there’s just a lot of info you don’t really need to know right this moment. Sure, as the above linked post mentions, some people depend on the time they receive information in order to do their job, but the rest of us don’t need to know right now that a dog barfed some chicken bone.
Constant interruptions of our attention on one set of things harm our ability to concentrate on another set of things. If I swallow 10 hours of my time keeping up to date with the latest details of the #balloonboy saga, I can’t spend those 10 hours doing other things. The value we lose by wasting time is relative, but most of us do have something better than nothing to do with our time.