I can relate. I too started playing tournaments in the 1970ies, but I realized early that I would never be a master (and also, back then when I would have needed it most, I had no support and especially no access to a good coach).
I still periodically experience those bouts of "obsession". These seem to come in waves. In between I had huge year long breaks where I thought I had completely lost interest, but it always got me again after some time.
However, I have stopped playing OTB tournaments in the 1990ies, and now play OTB on weekends only with friends (some of them are still very active though, with FIDE ratings of about 2000). I'm very glad internet correspondence chess exists, there I seem to have found my niche - I even joined my first tournament a few days ago.
I have been playing OTB tournament chess off and on since 1973. I am not a gifted chess player. The highest USCF rating I ever achieved was 1968 and that was in the 1990s when I was in my 30s. My ambition back then was to break 2000 but after hitting 1968 my rating quickly dropped down to the 1800s. Now I am rated about 1740 and I only play 1 or 2 OTB tournaments a year now. I used to study chess, but about a year ago I just lost my will to do any kind of studying. Now I basically play blitz on the internet which I enjoy. I think about making another huge effort to try to get as good as I can get and think about sometimes using a coach and all the good software available - especially after I retire. But is it worth all that effort to gain 200 or so rating points? I actually play well enough now to enjoy the game and not embarass myself in the few tournaments I do play. Sometimes I really miss the intensity of getting real obsessed with tournament chess. Other times I'm glad that I'm now more well rounded and retired from all of that. This is my rambling rant for the day. Can anyone identify with me?