If you put the price on the free time (as e.g. opportunity cost, or cost of saving resources), you can see leisure as a form of consumption.
The problem of many Western societies is that the cost of leisure is too damn high for many.
This is partly because the efficiency of work (its value for advancing a business project) is non-linear with time spent. Someone spending 100 hours a week maybe pretty inefficient due to overwork and thus lower (even negative) quality of things done. Someone spending 10 hours a week could be also inefficient because the project moves faster (when everyone else around works 40 hours), or the competition moves faster. So there is a range of maximum efficiency, which is hopefully far from 100 h/week, but also likely far from 10 h/week.
"Gig economy" can help: you work hard 2-4 months for a high rate, then coast 4-6 months at a nice place with low cost of living. The problem, of course, is that you must have saved a pretty thick cushion of assets for the case when a new gig is not coming when you planned.