Oh please, stop with the scare mentality.
Even if things go badly they are still educated, hard working people and would have no problem at all getting an entry level position in one day flat and living modestly for a decade or so.
They're not going to live in cardboard boxes.
This debt can prevent sending kids to college, and being able to purchase a home. Many of these are historically considered attainable by the middle class.
It is not so clear whether it is always a good idea to go this route, considering other options. The survivorship bias is strong in this space and it needs to be taken into account.
Maybe not, but I've seen quite a few indies with massive debt, and who are struggling with depression & anxiety as a result, and that's huge pressure on their family. Which makes keeping the family together an added anxiety, and then it's a vicious cycle. [It echoes the Phil Fish line from Indie Game: The Movie about wanting to kill himself.]
Burning yourself out on making a game (or a startup, or anything) is not worth that. Family and general happiness is so important. Keep things in scope so that if the lottery ticket doesn't work out, you've still got things to fall back on.
This industry has a huge problem with survivorship bias. We keep encouraging people to burn themselves out doing startups that usually fail. Some cold reality is necessary, IMHO. By all means chase your dreams, but have a backup plan and don't bet anything you can't afford to lose.
You bet, I'm driving around Africa right now! :)
this is me http://theroadchoseme.com
Not the case in every country.
It's still essentially setting your career back by 5-10 years... that's a significant downside. And given that it's by far the most likely outcome, it's foolish to discount it.
I.e. about 1/5 of your adult life. That's a huge setback, and I'd say a serious and irreparable damage to one's life.