I think developers are putting themselves at a severe disadvantage and are being taken advantage of because of this whole 'hacker culture' or 'startup life' ideas.
We are making it the norm, and raising everyone's expectations of us which end up hurting us in the long run.
Stop for a second, and consider other professions and industries. Do you see lawyers or financial analysts play with side-projects in the weekend, and running all-nighters and hackathons? Or working on open-source-like-equivalents of their professions?
Sure they are different industries, but there are similar things they could do if they really wanted to, but they don't.
When we talk about 'hacking for fun' etc... we are sending a message to other people which changes their attitude to "hey i only pay you this much because you'd be doing similar stuff in your spare time anyways..."
People value your time based on things like this. Lawyers play this game very well, they pretend like they don't have a single extra second to spare, and hey they don't talk about law being fun either, and hence they can charge $200/hour fees and others will happily pay for it.
I think we need to be smarter and adjust our attitude to account for the economic goals and political games of the rest of the society.