This is very relevant. In the past, Chess was the highbrow game in the Western world--the one played and esteemed by those who believed themselves to be above the median. Becoming good at Chess was therefore a means to impress those people, and in turn everyone impressed by the opinions of those people. If you were good at Chess, you had at least one socially redeeming quality.

There was a brief period where the ultra-intelligent switched to the highbrow game of the Eastern world, Go, likely due to its greater difficulty at grandmaster levels, and its well-established handicapping system that allowed for entertaining games between people of different skill levels.

Now, there are thousands of games played by elites, and none of them have such a clear advantage that anyone would put their leaderboard position on their resume. I already know how to play Chess well enough to let my boss win (without making it obvious that I threw the game), and I have plenty of other games that I can play when I actually want to have fun.

So why would I spend any more time practicing just that one game? I could try to improve my Go ranking, or play Hive, or build a new M:tG deck, or get better at Risk.

Many of the reasons people had in the past to play Chess well are no longer applicable exclusively to Chess.