There are a bunch of good comments here already but as someone that's worked as a game developer for years here's my take on it. I do have a few comments on the question itself before I get to my reasons for staying in the game industry.
First, not all game companies are created equal. The example you cited is from a company with a reputation for working long hours in and industry that already has a reputation for working long hours.
Second, compare what you read there to typical start up culture. All of the listed downsides are present to some degree in start ups. Are people more forgiving of this for start ups because of the potential for financial reward?
As someone else mentioned, not everyone sticks around and turnover for junior employees is pretty high.
Most people get into working in games because they love playing games. Making games and playing games are very different activities. I'd call this a necessary but insufficient reason for staying in games. If this is the only reason someone is in the games industry they'll probably, but not necessarily, leave relatively quickly.
Now that I've gotten generalities out of the way here's some reasons why I stay in games.
For me money isn't an issue. I could probably make more doing something else but I make enough to cover my expenses and have a pretty comfortable lifestyle. I'd need a very significant pay raise to consider leaving the industry if that was the main reason to go.
Making games is hard. I like working on challenging things. There's also a very wide variety in the challenges. If you don't like working on one type of challenges there are other challenging problems to work on.
Another big thing for me is the people I get to work with. Because of the wide variety of roles you see people with very different backgrounds making games. Personally, I prefer this and the impacts it has on company culture over the more tech heavy companies. I'm also very fortunate to work with incredibly talented people every day at my current job.