Makes no sense to me. Five pounds of powder is 35,000 grains weight. That's roughly 1,000 CF rifle cartridges, or 5,000 pistol cartridges.
Dunno about you, but it takes me quite a while to load and shoot up that much ammo, so I can't see the "waste of time" factor.
Even if you were restricted to a pound at a time it wouldn't be a "waste of time"; for years, I used to buy powder in the 1lb cans, because I couldn't afford more than that.
Maybe it's a "waste of time" for a professional competitive shooter who burns through 15k rounds/month, but that's hardly applicable across the broad spectrum of shooters.