My experience with the bachelors was that despite my project being derailed by the bullshit around formatting the document, doing "research" by searching the library for peer reviewed papers that backed up my claims, etc, etc; I got a excellent mark. In short I set out to make something and due to the academic processes failed in making anything, but because I was able to critically reflect on it, I got a good mark. Waste of time, unless you were just are a good mark.
For my masters I know the project doesn't matter, I'm concentrating on the academic nonsense because that's where the marks are.
The waste of time would be for a professor to train you up to be a researcher before you’ve proven you are ready, hence the homework assignments.
I think the way to know if you want to be a researcher is more along the lines of: do you like finding the answers to questions no k e has thought to ask let alone answered? If so then it doesn’t really matter the training you’ve or the amount t of the field you’ve experienced, you can focus on that bit as your guiding force.