I think it can be true in some cases.
Like Doug said in an interview, we should define priorities, and get things done according to these priorities, in our everyday life.
It's more about what you do than how much you do. I totally agree with that.
I think being busy is indeed productive, when you are busy with the right things, or busy choosing the right action to take.
This goes back to the Pareto Principle or 80/20 rule which states, 80% of your results come from 20% of your activityAs said on an article I saw on the community website, this is one of the advantages of planning your days (leave some time for ... "improvisation" though lol) :: we can get busy a whole day doing a single thing when we have no plan, when we don't know where to start, but by getting a schedule (and sticking to that schedule), we could get the same results after 2 or 3 hours of organized work.