It does.
There are stories about people seeking euthanasia in the Netherlands for example just because they have severe tinnitus.
I have mild tinnitus, I 'd say, since I was 15. Might be due to some bike-accident or some concert-noise. But it never left me since then.
You learn to live with it, if it stays at a level with which you can cope. But it still sucks and you are always afraid, shit becomes worse some day.
I really protect my ears with professional" hearing defence" at concerts.
But without live music and moshpits... my life would be even more worthless... no chance that I 'd cut such events at all.