While applying for grants can be stressful if you don’t get one, there’s always another. You get 3 attempts to apply for a CAREER award! The same goes for papers; if it’s rejected just shop it at the next venue and it’ll be accepted eventually if the research is quality. It can be stressful but no single thing is ever do or die. They say “publish ir perish” but academia is filled with 2nd and 3rd chances. I feel like a lot of the stress is self inflicted by type-a personalities who need to be perfect all the time, people who never got a B in their lives.
Even on tenure track, you know you’re guaranteed a job for 6 years as long as you are trying and making some progress. But if you aren’t performing at the level of getting tenure, that’s made clear way ahead of time in the (rare) cases I’ve seen in my department.
At least at the company I don't have to worry about that shit as directly as a worker.