Add in the fact that the FAA is about 50 years behind the times in understanding mental health, so you might lose your entire career if you are diagnosed with depression (even if it is a result of stress at work).
Plus, you have to be younger than 31 to start an ATC career, and are required to retire no later than 56. So for good, not great, pay: you have to pick your career before the age of 31. Pass rigorous training. Have a plan for starting a new career if you ever have health issues, or when you turn 56, whichever comes sooner.
In a vacuum, the pay is attractive. In context, it doesn't seem much more than "above average", at best, for a VERY hard job.
In any case, the proof is in the pudding. If people thought the pay was generous and worth it, would there be a shortage?