Is IB still a cutthroat, hard-working, fierce, and competitive industry?

To provide some background, I am currently enrolled as a student at a targe (HYP).

Since the day I first encountered the concept of investment banking, it has held a profound fascination for me. I have been captivated by stories of the arduous work, long hours, relentless directors, and the prevalence of type-a personalities within deal teams. Furthermore, alumni recounting how this career path offers individuals the chance to attain success and transform their lives have left a lasting impression. These tales of life-changing experiences, newfound perspectives, and a palpable atmosphere of intense competition have left me wondering a crucial question.

Does investment banking still command widespread admiration as a fiercely competitive and cutthroat industry, or has it perhaps undergone a shift towards a more subdued, softer, weakened state? Has it changed significantly, while still retaining its character as an exceptionally demanding endeavor?

Monkeys, please share your perspectives on this question. Feel free to reference personal experiences, whether that's in the past or present. Thank you all!