Why do older players continue to play OTB tournaments? Why do older bridge players persist in playing tournament bridge? Why do older golfers persist at trying to play golf well? Because it's fun! If playing competitive chess isn't fun, why are you here?
Absolutely Mickey.
I'm just thinking out loud here. But it seems to me that chess players get upset more at their losses than other players in other sports do in their losses. Using your examples, older bridge players and older golfers don't get mad at themselves in quite the same way as older chess players do. So while chess is fun, it's also more agonizing too.
That old man is totally disgusted. He has to look at one of those cheapo red-and-black folding chess boards! Is there no more beauty left in this world anymore?
Red-and-black? Aaaaack!