During a high-risk flight, the possibility of ejecting outside parameters is quite high, such as the recent F-22 crash where the pilot got killed during a high-speed ejection.
There have been pilots who eject once and ended their career due to injuries.
The ejection seat creates the illusion that even if everything goes pear-shaped, you'll have a chance to survive. The real-life cost was often gruesome (see John McCain's stay in the Hanoi Hilton), but it gave pilots at least a chance.
If no pilots would get into the cockpit without ejector seats, they were worth it.
These guys simply expect that they're better than everyone else in the air and can never be shot down. I think you pretty much need that attitude to be able to do the job.