I think any time you commit too much time to one activity such as your work it's unhealthy, I think that when you are working all the time you become more stressed and overall you miss out on many other aspects that you should be enjoying in life, I think that if you are truely enjoy it then it's fine but for most it's not healthy.
Being a workaholic is bad for your health and well-being. Being a workaholic is unhealthy for your physical an mental well being. Workaholics may have developed obsessive compulsive disorder, impulse control disorder, stress, and obsessive-compulsive personality disorder. Spending too much time at work may cause a person to become dstant from there family and friends and thus cause social problems.
Many people believe in the motto "Work first, play later". Although this motto is very true, some people take that idea way too seriously. For example, workaholics tend to work until they literally can't anymore. This way of working is proven to be ineffective because after working for too many hours, the work does not become coherent anymore. It is better to take breaks in between work jobs.
I definitely think there needs to be a balance. I think part of the reason though is people are so flipping into desire to make money -- oh yeah McDonald's materialism once again lol. It's so stupid. Whatever happened to people doing what they loved to do? That would this world happier.
Money is not all that matter. Doing what you love + it being a decent-paying job is the winning combination.
I definitely think that being a workaholic can be a bad thing when it comes to somebody's health and well being. I think that while it depends on the person, and being a workaholic wont always mean somebody can become unhealthy, it is something that can affect how somebody takes care of themselves.
The reality about life is that everybody has at least one vice (and I mean AT LEAST ONE). If you are going to have a vice, you might as well have a vice that can improve your well being. More importantly, being a workaholic is about circumstance and state of mind, so it is much easier to address than other habits (I.E cigarettes, sexaholic, alcoholic, etc)