Is being an honors student really worth it?
Being an Honors student is a prime example of signaling: you could just as well learn the content by yourself, but having that distinction on your degree signals something to potential employers or grad school admission committees. And those people hope that this signal correlates with something useful, e.g., flexibility in thinking, openness to new ideas, conscientiousness etc. (Yes, being able to sit through boring meetings can be a survival skill in many bureaucratic settings.)
It has been seriously suggested that much of higher education is explained by a signaling model.
So you will need to weigh the current pain of boring meetings and uninteresting people against potential future benefits. Your trade-off will depend on what else you could be doing in the time you could free up by de-Honoring.
I personally have profited from being a member of a similar German institution. When I applied for a job in a (mature) startup, one of the founders, who happened to be a university professor, saw this in my CV, and he explicitly said that this helped me get an interview.
It depends on your reasons for being in the Honors program.
Are you in it for the extra line or two you have on your CV or diploma, or the learning experience, or the potential opportunities that arise from your undergraduate institution?
Look carefully at how you've "sold" the Honors College to us. A list of requirements, a mention of a waste of time, and pointing out that you can do everything the HC provides to you without assistance. You come across as dissatisfied with the system.
I am going to try and be as objective as possible, given how I also feel dissatisfied with my time in the Honors program, and be as fair as I can about the situation's pro/cons.
In it for the Learning Experience
If you're in for the learning experience, by all means, it is certainly a learning experience. One of my courses in my Honors program, I learned a significant amount about leadership, and drastically improved my writing skills. I certainly would still have been a terrible writer if not for that class, and that's a plus in my book for how Honors helped me. That being said, not all of the Honors courses are that great. I assume that your program may require you to take classes outside your major to fulfill enrichment requirements. I would recommend you find something that isn't only useful, but interesting. I took a class about the Beatles because it fit my schedule, and that probably could have been replaced with something much better.
For the Resume/CV
If you're looking for stuff to put on your resume, there's probably far more time-efficient and cost-efficient methods. Assuming 1 hour a semester for 8 12-week semesters, plus perhaps 4 hours of other Honors-related stuff per semester, that's about 130 hours of time spent to just add the Honors distinction to your degree. May not seem like many hours, but that's equivalent to 10 credits in a 120 credit degree. Add in the possibility of unrelated Honors courses, and it starts turning into 15-20 credits that could have been spent on other courses. I do not believe you have to be in the Honors program to qualify for Honors-related work, and in fact, I would assume non-Honors students can take your classes anyways.
Potential Opportunities in Research
The thesis/capstone projects provided by the Honors program do provide the ability to perform research projects at the undergraduate level and are likely the most high-yield activities you can get as an Honors student. If you capitalize on this, you should be able to do research in a lab at your university and write, present, and possibly even publish a paper. This is probably one of the few things you can benefit from. If you don't use this, it's a wasted opportunity for sure.
The question becomes whether or not the time spent in the Honors program is worth the additional benefits. After finishing the Honors program, no one asked me "Oh, did you go to the Honors program? Tell me about it." They did, however, ask me about stuff I learned through Honors courses. It's nice to see that I have a certificate for it, but apart from that, once you graduate, whether or not you attended the Honors College matters less than how you capitalized on it.
In case it wasn't apparent, I attended an Honors program in college to completion.
Let me add to other answers (this may be a little too long for a comment): depending on what you want to do, you can potentially do things a lot better for your career outside of the honors college. I was in a similar position, and got "kicked out" of my honors college my sophomore or junior year because I refused to take so many honors courses. Instead I spent my time taking a lot of advanced math/CS classes (many graduate level), and the honors college director wouldn't let them more than a couple count as honors credit. (I actually enjoyed most of my honors classes till then, and was friends with a lot of the honors college, including the director.)
I ended up finishing with a dual math/cs degree and a masters in math in 4 years, which I wouldn't have done if I had to spend more of my time taking honors classes. This was much better preparation for grad school (or many industry jobs). So I would say it depends on your situation (other answers mention pros of being in the honors college), but if it prevents you from doing other things you want to do, it's not worth it.