I think that's normal!
I doubt many bikes get used to their potential, race bikes that don't, Audax bikes likewise, Expedition that never go anywhere adventurous.... OTOH, many of the people that go on such adventures do so on quite low spec bikes...
Is it a waste? Only if you somehow thought you needed it, even more a waste if someone felt restricted by not having the right bike.
If a bike meets your expectations, it's far from wasted, important thing is it's for you to judge. Likewise, if a bike doesn't meet them, it isn't for anyone else to tell you it should. I'm sometimes guilty of that, though usually on the basis that the improvements won't materialise, rather than they shouldn't do it.