Yes, it should be a conscious choice. This dynamic exists in games, academia, Hollywood, stand-up comedy, the minor leagues hoping of most professional sports, etc. The great thing is that software people have a nice choice of fallback jobs, whereas it seems like people get trapped in academia and are prone to being abused because of their vulnerable situation.

When the employees no longer believe in the goal, they can quit, "cash in" and go work a more traditional job. But X removes that natural dynamic, hence the questionable results being achieved IMO.