There are four aspects to this:
1. Weight: I've been 50+ lb heavier than I am now and I, personally, hated it. It makes everything harder and that only gets worse with age;
2. Fitness: this one is (IMHO) less extreme than weight differences but if you can't walk up a flight of stairs without getting winded that's going to impact your life in negative and real ways;
3. Health: when you're young this is less of an issue but as you get older being overweight and/or unhealthy becomes a more significant risk factor for many health problems. Heart disease, strokes and a host of others;
4. Quality of life: getting fresh air, sunlight and exercise is generally good for your state of mine. At least, it's good for mine. It can help put thing sin perspective (professional and personal) and improve your mood.
YMMV
As far as time goes, this was a big motivator for IF for me. As in, the effort of preparing (or even buying) meals annoyed me. It's one of the big things I appreciated about working in tech: the free meals. Not for the quality necessarily but primarily for the convenience. I don't have to plan for (many) meals.
Treating eating as a leisure activity can be a trap too like some people have weight issues because they like food and end up treating it as a reward, which reinforces the cycle.
I prefer to think of food as necessary fuel.
But how much time do you spend on food?