Yep, it all depends on use case. If the goal of the app or site is to wade through data, then extra padding is a waste of space and should be minimized.
Also, if it's something that you use quite a bit, then I often find the extra padding annoying as well. This is more about the user than the use case. As a user becomes more familiar with the app, extra steps (like scrolling or switching tabs) becomes less desirable than just having a jam-packed screen.