If you work 75 hours a week for $50p/h, have a family and the weekend off - no matter how much you love your brewing hobby it simply does not make sense to brew because you are time poor and cash rich.
Sure, there's no need to factor in an hourly rate when you have time to brew that doesn't subtract from other commitments. Not everyone has this luxury; some people value their family more than their hobbies.
A friend of mine rolls his eyes when he hears how long it takes to make beer and swigs his can of XXXX Gold. He's rich and busy; I've got all day.
I know K&K brewers who will never move to AG because they don't see that spending hours crafting award-winning beers is more fun than going surfing, or playing sport with their kids. They brew K&K because it saves money, but also doesn't take hours of their day.
If I won lotto, I'd still brew. If I had to work 75 hours a week, I would go to Dan's and go hard. brewing takes time and time (for some people) is money. Hopefully this helps in your understanding about why people want to apply this argument.
None of your argument helps me to understand why you would want to apply this argument, in fact most of it I see as contradictory.
You say that to some people time is money, but then suggest they shouldn't or don't brew because they need to spend time with their families, or surfing, none of which are activities that generate income (obviously surfing can...).
Making the decision not to brew because you are time poor, and want to spend that with your family, or surfing or whatever, isn't an economic argument, its a social and values based one, and a perfectly valid one.
Again, unless the time spent brewing is detracting from time you could actually be earning money I don't think there's a valid reason to factor this in.
Any time spent brewing subtracts from other commitments, but it isn't automatic that means money. Personally I don't know anyone who has time to brew that doesn't subtract from other commitments, doubly so for anyone with a family.
If you are spending time with your family you aren't working, but that doesn't mean it isn't valuable nor valid.
I work full time and have a wife and two small children. I spend after work (not much before as I generally leave quite early) and weekends with my family and occasionally make the decision to spend some time brewing. During this process I spend time with my family and also work on other commitments, household jobs etc.
I'm glad you've got all day, many of us don't, but still make the decision to brew.
The decision to indulge in any hobby involves a lot of factors, time being one, but I don't think it is the case that that time has to have a dollar value attached to it, a 'social' or whatever you want to call it yes.