Are video games a waste of time?

Video games are highly addictive, at least for me. It's difficult for me to start playing a game and get off after one or two. Usually I'll binge play for hours because I have nothing better to do. Another reason I do this is because I wish to perfect my skills in whatever game I play.

However, I have noticed my productivity has slowed down since I've played video games. I make less money, lose focus on school, and lose touch with friends.
I can't think of a solution other than cutting them out completely, since I do not have the self control to play a few games and get off.


What are your thoughts on this? Is it a good move to almost completely eliminate video games from my life?