In general I think you can never spend too much time with your baby or children, as long as you leave them the freedom they want and need.
And although many people seem to think (unfortunately I heard that too often), that "during the first years they [the babies] don't realize much anyway", the development of a baby is very very fast, and the more time you spend with him/her, the more you can see the tiny differences and advances, it constantly makes.
And it is important to talk to them, to play with them, to touch them and to find out what personality has joined your family.
So it's a difficult thing to find the balance. Our son was (when he was a a baby and he still is) very active and very interested in everything.
You'll have to find out, how your baby shows you that it wants attention and when it also might take a rest (maybe even without sleeping).
And every child might have a different way of telling his parents what it wants.
I know, it can be very very hard, if you don't get enough sleep for some or even many months and the baby does not respect that and demands your attention, if you're exhausted.
In such difficult moments you might even tend to get angry, as you also need rest.
But you'll have to tell yourself very clearly that the baby just does what it feels and needs and that it does not try to make you mad on purpose.
You can try to "impose" your schedule on the baby's day, but it depends on many circumstances, if that will be successful or not.
In many aspects, you'll have to adapt to the daily rhythm of your child.