It's even worse in industry, where I worked after academia. I felt like I was using 5% of my brain to do things I was bored to death with. This isn't just me either: many of the people I've worked with feel the same, including virtually all my fellow PhD students.
I feel like the only thing keeping it going is the novelty of working in new places, meeting new people, and getting new projects. It's almost as if we have a basal attraction to novelty because it's a survival instinct, but we have distilled life so that novelty is the only thing left, stripped of substance long ago when we traded thought for automation.
Of course, it's even harder to see it because we have "propagandists" (i.e. then 1% of people who have carved out a protective bubble for themselves due to a combination of luck, ingenuity, and gaming the system) that say that amazing things are happening.