The vast majority of people think they would prefer that because it's not a realistic option for them. But a lot of people who actually have that option choose to work anyway (quite hard in many cases). Any many of those who actually do choose to spend their time entirely on "entertainment and leisure activity" become deeply unhappy.
When money isn't an object, people would probably do things like ski and hike and travel until it became boring. Then they would happily work, especially if money isn't being worried about. When people are struggling, they will want to work, but will probably want to make as much money as possible.
I know I use "probably" a lot, but it is what I would do. I could imagine others following the same path. Just my $.02.
