For me it’s inverted. I have a hard time doing anything until failure is a concrete possibility. Then I become incredibly motivated to not fail.

The problem starts later in life, when a person starts misjudging both time/resources needed to rush complete a task and consequences of failing it.

Failing practically anything during the study in the university is a laughing matter. Worst case you have wasted 6 years on partying and got nothing in return, maybe some debt too if it was in the USA. Failing a task later in life may lead to jail time, deportation, divorce, eviction, homelessness etc. So getting familiar with procrastination and letting it get more severe with years is recipe for disaster.