It could be as well that it's an European thing. At least over here work is just work (9 to 5, or less if possible), so we prefer to spent life with friends and family. Yeah, we don't earn $500K/year, but that's alright.
Why? Surely it's doable within the 9-5 schedule (plus some people for the on-call rotations), it would just take a bit longer?
It isn't just the 9-5, but the idea that your job stops when you leave the office. If people see it as a transactional relationship only, it means there's less investment in the product