I guess it depends on what your local environment is; for our DS at that age it was rural, and in his pushchair he liked to watch a little stream that ran through the village. As parents, we currently didn't have any other demands on our time, so he could watch the water for as long as he wanted.
At 2 years, we saw a great green cricket in the hedge - I didn't know what it was, but said we would look it up in a book when we got home (this was thirty years ago, before the internet was invented).
Another time, we were fortunate to see several Lapwings in a ploughed field; harsh winter weather had probably brought them in, and for years after we talked and made up stories about them; sadly, they are now an endangered species.
For a year or two, my wife (who had been a nursery supervisor, before having the baby) took over and ran a toddler group in the village; she inherited a large collection of very grubby toys, which we brought home and gave a thorough washing to; soft toys that couldn't be cleaned, had to be thrown out. So DS had access to all these toys for a while.
As you probably know, at toddler clubs babies often play on their own, and at that age don't interact much with other children. Some libraries run baby music sessions, and in some places SureStart groups have parent and child sessions (though 'cut-backs' are probably threatening many of them).
The only thing I DON'T approve of in your scenario, is having the TV on; obviously, have it on if it is something you both want to watch, but not all the time 'for company'. And if he is watching, talk about the programmes, and explain things he might not know about or understand. And wildlife programmes, travel documentaries, even some science programmes can have items to interest toddlers. And decent music programmes or ballet, but not too much 'pop' please!
I was learning to play the electronic organ, and by age 2 DS was joining in, and was playing his own tunes by 5 or 6.
So, I think ALL activities a parent can share with a child are valuable; they may see mundane, even boring, to an adult, but EVERYTHING is new and exciting for a young child.