I'm pretty sure that the repetition in MMOs is not what most people consider the meat of the fun. It's an obstacle to get to the fun, because nobody can create enough real content to satisfy players.
The big assumption here is that people are using their time optimally all the time. I think instead we simply run out of motivation and deal with whatever is going on instead of looking for the 'best' way to have fun/work. We're familiar with it, and dislike the cost associated with finding something new.
Except MMO's, which are probably the pinnacle of repetitive, work-like video games. Kill 10 rats times a billion.