FWIW, I agree with pretty much everything you've said. But I don't think it's unique to any profession or individual that they tend to care the most deeply when it hits them directly.
The only thing I don't really agree with is where you say "My parents-in-law started their careers as management consultants. The job in their time was much higher prestige and much higher value than it was when I started my career." I still think of management consultants as some of the highest paid careers around, and getting a partnership track job at one of the Big 3 is one of the most desirable jobs (for MBA types anyway) there is, so I just don't know what you're talking about with this one.
The only thing I don't really agree with is where you say "My parents-in-law started their careers as management consultants. The job in their time was much higher prestige and much higher value than it was when I started my career." I still think of management consultants as some of the highest paid careers around, and getting a partnership track job at one of the Big 3 is one of the most desirable jobs (for MBA types anyway) there is, so I just don't know what you're talking about with this one.