In general (as opposed to in my personal circumstances), I think a lot of people spend too much time on the Internet, and to the point where some younger people today are said to have had their ability socially interact offline has been affected. That's not just my opinion. It's something that has been noticed by people who study such things.
In my own life, I don't have much of an online life. I do write "for legitimate" reasons (work-related), and then I write in my down time. Both are a small part (sometimes bigger part than others) of my "real" life. Other than that, though, the only socializing I do is on the HP forums (which, to me, is a small part of the even smaller part-of-my-life that is free-time writing). I do the little bit of other stuff online, like the usual checking e.mail, paying bills, and/or shopping - and that's it.
Since I'm the same person on HubPages that I am in "real" life (although I use a user name); I'm looking at writing a Hub every once in awhile, reading one here or there, and leaving up the HP site in case I want to pop onto the forums or Answers section when I have a few spare minutes (or the occasional spare hour or day off).
This may be because I grew up before there was an Internet and just got used to a world without it, but the concept of "socializing" online isn't something I really even get. (lol) Some people socialize online with the friends they have in "real" life, so I sort of understand that. For me, though, if it doesn't involve either being together in person or talking on the phone, it isn't "social". It's "something else". "Social", for me, has to include the "actual person", or else it's just information about them - and I'm not particularly interested in people's "information". I'm interested in being with, and talking to, the people in my life.
AND, when it comes to getting all involved with social networks and whatever goes on with them (like people pretending to be interested in what other people offer just to have a place to post their own links)... That, I just see as a waste of my own time, more phony than I ever want to be, and pretty much torture". Of course, maybe I just don't know how to "socialize" online. Well, I take that back. I not only don't know how to "socialize" online, but as I said, I just don't even really get the concept (or understand why anyone would even be interested in it, other to get traffic to their own stuff - in which case, it isn't socializing, it's business as far as I'm concerned). So, in answer to your question, yes. I think too many people spend way too much time online; when, really, there's such a thing as an offline life and world that a lot of people are missing out on by "living" online for no real good reason.