Am I "happy"? I dunno. My 10 month old woke me up 5 times last night and as a result today was a stunningly miserable slog. But I have meaning, and that gives me direction and tremendous joy.
I think the problem lies with work. Increasingly, people have to work more for less in order to survive. They have to squeeze more out of meager savings, worry about their health and often have little to no time to actually explore their lives or their communities. Suburbanization has made this aspect worse by making it harder to leave the suburbs and placing people into small bubbles of slowly fermenting restlessness.
This discussion is rather circular, to be honest. Happiness, by my definition, is a state of having achieved a goal or goals. (I wrote this lengthy thing over ten years ago trying to put hard definitions on words like happiness/satisfaction/pleasure etc: http://www.karmatics.com/docs/dictionary.html )
Maybe you define happiness differently than me, but I have a hard time understanding how it can be considered "not worth chasing" by any definition that makes sense to me.
My favorite view on “happiness” comes from The Oatmeal, How to be perfectly unhappy: https://www.theoatmeal.com/comics/unhappy
It boils down to this: stop chasing happiness or joy or whatever marketing departments have decided you need and their product can provide.
Focus on meaning.