Whether doing a degree is a waste of time or not depends on a multitude of factors, including why you are doing the degree, what you actually want to work in later on and what you want out of your time at university in general.
My opinion is that any degree can technically be a waste of time. If you go into degree A and you get nothing out of that particular degree or you don't get what you want, then you are wasting your time, it's as simple as that. I agree, professional type degrees are generally seen (by students) as more useful because they tend to direct students down a more clear cut career path, but again, if you don't actually intend to make the most of the degree, then that's wasting time too.
I think only you can answer whether you think Arts is for you or not. If you truly have an interest in whatever major you intend to choose, then that's good, you're persuing an interest and you'll enjoy your degree and you'll be able to use it as a stepping stone to get you into further studies or employment.
If you don't really have an interest in Arts and have the intention of doing it just because it's easy to get into, just because you think it's a bludge or for no real reason in particular, then you won't really enjoy it and you won't find it worthwhile, you'll probably be scraping passes and credits through most of your degree and you'll end up with a piece of paper that won't mean much to you and you would have blown a few years of your life and tens of thousands of dollars. The same can be said for any degree, even say, Medicine, if you don't truly have an interest, don't truly want to become a doctor and you're doing it for the wrong reasons, you'll find it as a waste of time too.
A bit of a read, but tl;dr, it's worth your time if you think it is, not worth your time if you don't think it is, it's up to you and what you want.