Here's a clear example of the difference. One search application I read about takes 1 second to do a search, no matter what search you do. Most of the searches actually take less than 0.1 seconds but occasionally more complex ones might take the full second.
The UI always shows a 1 second search time, even for the fast searches. They designers did this so that users know exactly what to expect. Otherwise they get frustrated when they are used to an "instant" result only to have the computer seemingly hang.
(I believe this was for the Bloomberg terminal, but I can't find the reference now. The numbers of "1 second" and "0.1 second" are made up as I've forgotten the real numbers.)
So yes, in this case the program authors clearly "waste" CPU time in order to provide a specific user experience which the users wanted.
And you think this is bad because .... ?