Well, of course they won't stop here. There's still a bunch of people, especially in Japan where the ideas are very embraced, who like the games. I can see their pokemon are actually getting worse, but there's still little kids and more playing it. Still making money, so they'll keep going until they fail, i guess. Of course they will.. :/
Collecting is the fun of it, it;s hard and takes forever. Just like any other video games you couldn't beat. SO i don't think it's exactly wasting time, or else every single game you played would be "wasting time," because they all have a special twists that can make it take a long time to beat. It may seem pointless, but what do other games give you? ..nothing. They never give you anything, so they pretty much all waste your time.
But who doesn't like to? XD That's what video games are for!