You can find a job that pays well and provides excellent work-life balanceOf course you can, so why doesn't everyone do it? Why is there so much written about work/life balance and burnout targeted at programmers (much of it featured on this very website)? Why is google lampooned for on-premises chefs and nap rooms? Why does every programmer in a 10 mile radius sneer when the phrase "unlimited vacation" is posted on the internet?
you won't be paid or professionally respected quite as much as those that put in the hours
Well that's certainly true, but putting in the extra hours doesn't necessarily equate to more pay or more respect, very often it equates to much more work and responsibility without much more pay.