In what sense did you find game jams to be a waste of time? I've found them to be useful to prototype new game ideas and to try out new frameworks. When I've game jammed on a team with others, I've often learnt new approaches to making games from people with different sets of expertise from me. And there's also a social aspect of game jamming where you get to be exposed to how other game makers and see all their weird creative processes and ideas. I've also found game jams useful for getting more time in certain parts of the game development process that I usually don't reach. In making actual shipped games, the most important stuff is often at the end--refining the gameplay mechanics and narrative to make them more fun, controlling scope so that things can ship, game testing with real users, etc. With game jams, I can actually spend some time improving my skills in these areas because I actually ship a game at the end. I am, admittedly, pretty good at fast coding and am pretty experienced with game jamming, so I'm more able to shape my game jam experiences to what I want.
I'm a bit saddened to hear about your job. You seem pretty talented. I'm not sure why you aren't working a more challenging job in Silicon Valley where you get to work on interesting things with interesting people. Or why you aren't slumming it in academia where you can just spend your time pursuing your own research directions. I know you think of yourself as the smartest person in the room. And though that may be true, that doesn't mean you can't have peers from whom you can learn things and who can challenge you.