I suspect that most chess players below the top 10 +/- discover sooner or later that chess just doesn't pay the bills unless you live very modestly and do a lot of teaching. And the bills have to be paid, since living in a cardboard box under a freeway overpass is not conducive to improving one's chess game. That generally involves getting a job (and even teaching chess is a job in this sense) and that takes time away from serious chess improvement. Alas, the "little time to play and study" effect is worse the stronger a player is. That's just reality.
By that logic there should be more 2700s than there are 2600s and 2500s.
Not really. I think if you look closely you'll find that the large majority of those 2500-2699 GMs are younger than 35 years old and either (1) are below 25 years old and living like students (and maybe doing a little part time work) or (2) spend a lot of time working (including some who are teaching and/or writing about chess and others with "real jobs") and play as time allows, or (3) are subsidized in some way (government, scholarships, parents, etc).
Most of the 2500s and 2600s are NOT going to become 2600s and 2700s respectively. Ten years from now, many (and likely a large majority) of the current crop of 2500s and 2600s will be doing something else and there will be a mostly new crop of 2500s and 2600s.
I can hardly imagine another profession in which one tiny mistake can mean the utter destruction of everything you've worked hours to achieve.
EVERY performance arts are like that.
Boxing: miss timing by 1 second and you get knocked out.
ballet - injuries
opera - losing your voice
Hong Kong kung fu stars - injuries, one wrong move and you hurt your knee, etc . . .
Sports: tennis, basketball, don't get me started on football. How many surgeries do people like Sharapova and Michael Jordan have?
Acting, comedy, music, etc . . . has an endless list of one hit wonders.
Performers don't last too long. It's the "live fast, die young" approach to life.
"The light that burns twice as bright burns half as long." - Blade Runner (1982)
As far as what you're talking about I think Olympic Athletes have it the worst. Most of their young life plus another 4, 8, 12 years of training, and it's possible that 1/100th of a second is the difference between a medal and nothing.
But as for during the performance itself chess is up there with the most unforgiving. One minor mistake and it can be practically impossible to recover the game. Team sports don't seem to compare very well. Music and boxing seem like good comparisons though.