The concentration of players at the 1000+ range is much higher than those at the upper echelons.
Think of it this way. You enter knock-out tournament with 1024 players initially. If you lose at the third round, you are still better than 75% of the players. If you lose at the fourth round (out of 10), you are better than 87.5% of the players, even though 4/10 isn't exactly a score to be proud of.
The concentration of the "best" performers are too low. In my example. if we consider reaching the quarter-finals or better to be "respectable", then only 8 out of the 1024 players would achieve this feat.
Chess works in a similar way. The proportion of players hitting higher ratings decrease over time. If we draw a normal distribution curve, the peak is likely going to be around 800 and 900, with you being at the 95.5th percentile. You will be close to the "right tail" of this curve, even though we know that 1400 is "nothing to be proud of" in the views of the top players.

I'm in the top %4.5 with 1415 rating? What! how.. I mean okay there are less than 2000 GMs out there, Some IMs FMs lets say 20k people have titles.
And the rest of us.. mere mortals are living down there.. on the earth. But are we that bad? 1415 rating means better than the rest of %95.5? Seriously?