Free time is limited. I'd like to spend it doing something more rewarding than job hunting.
In other words, a $10k increase in salary might not seem much but it will add up, and not only will raises compound as well but future jobs will start at a higher negotiation level as well.
Of course, spend your time wisely but I think it's really short sighted to think "I'm happy at my job, I am going to completely block out all the recruiters out there".