I don't think instructing is a waste of time. Hell, I know for a fact that I am NO WHERE near as good as any CFI at CAPT. I graduated that place knowing that each and every CFI there is top shelf quality instructors with some serious flying skills. Personally, I wish I had more time to fly with them and learn more from them than what was in my training course outline that just gets me the hours to get my certifications. I recall all the time after each flight I was aspiring to be like those instructors. Alas...I'll have to settle for my less than elite skills compared to theirs.

But you are right, CFI is not for everyone. But I wish I could fly as well as a CFI.