A phrase used by a simple-minded person to demean the creativity, efforts, interests and achievements of another because they do not specifically relate to said simple-minded person's interests. While it is sometimes used when refering to a genuine waste of time, generally its usage pertains to interests that are very much a legitimate way to spend time. There is nothing wrong with having hobbies, even if they aren't mainstream.
Person1: Hey, can you read my short story and tell me what you think of it?
Person2: You spend hours doing something you enjoy doing that requires talent and creativity for the purpose of entertaining yourself and others as well as developing skills that could prove useful outside of said activity? You have too much free time on your hands! I'm gonna go smoke some weed and watch TV.
The reason for all art and culture's existence is humanity having too much free time on its hands.
Moronic and meaningless buzzword to denote a video game of some kind. Originates in the days of the "interactive movie", a time of terrible experiments combining gameplay and video footage. Interactive movies quickly earned a much-deserved bad name for screwing up both the components that the name implies, so companies started using "interactive game" instead, hoping people were stupid enough not to notice. Though the genre is more or less gone today, the term is still in use, usually by the same people who say "internet website" instead of just "website" believing the redundancy will make them look, uh, smarter or something.
I'm sure glad this interactive game is interactive, cuz otherwise it wouldn't be a game would it?