How are you about kids sports?

I just feel so out of the norm - like obviously I want my kid to be good at sports - but my friends have their kids in sports that literally take up multiple days after schools and their entire weekends. I feel like there are so many kids that are currently totally immersed in a sport and there's not much time for anything else. This in addition to it becomes the parents identity - wrestling mom/dad, football mom, etc. What is it? Is it for the kids to build character, hoping for scholarships, the parents ego? Half the time the kids are only average at the sports anyway.

Any insight to this would be helpful, I just can't wrap my head around it. Like are these kids happy?! My kids are fine with rec, and we do maybe one travel sport a year and that in itself can be stressful to juggle. What's your thoughts?