Agreed. I once had a job like this - the first so many months was little to no work, because of external inefficiencies. Nice in the beginning - I used the time to learn cool stuff (Emacs, etc). But after a number of months you feel like you were put on this Earth to do something useful, and you start looking for jobs.
When I tell people this they are usually envious but I always say 'be careful what you wish for'. For me it was the most miserable period of my life.
I've had depression and been homeless - that job was worse.