One hundred percent. I work in film, and recently had an argument with a friend around this point. He's incredibly healthy, and frequently works a large number of unsociable hours. I was pointing out that filmmaking hours make no concession for family or age. He'd convinced himself that he'll have no more difficulty doing 80 hour weeks in his forties and fifties than he does in his mid thirties, because he 'takes care of himself'. The implication being that everyone could work those hours if they just ate better and held multiple martial arts belts as he does. It was no use pointing out that he'd confused cause and effect.
Certainly people work their way up and fade into a less strenuous role. Surely they don't just kick people to the curb. That would suck.