Yes, but you should also ask "if I instead kept working all these extra hours as a consultant, would I be OK, or would I hate my life, be stressed, perhaps burnout and lose customers, or even have health implications"?

With these questions in mind it's not as straightforward to say "if I didn't live this new lifestyle I'd make billable hours consulting".

You also need to think the reverse "opportunity cost" playing into your consulting gig life in the mid/long run.

One not doing what they like to let off steam, could in the end lose gigs or family (e.g. due to drinking, substance abuse), or even hurt their health/life (depression for one).