Maybe, or maybe they're overworked and overstressed and don't have the time or mental capacity to pursue a hobby they would otherwise enjoy

Not always. Hobbies generally require one or more of money, equipment, space and most of all free time, all luxuries that a large chunk of people around the world cannot afford.

It seems to me there are numerous distractions that compete for our time and attention. hackernews, social media, television, sports, and even drugs can all draw us away from pursuing our hobbies. Moreover, the limited time we have available to devote to our hobbies is further challenged by the prevalence of sophisticated, A/B tested platforms that are designed to capture and hold our attention.

Not if it's not entirely freely made.