Most Rust code looks like this - only generic library code goes crazy with all the generics and lifetimes, due to the need to avoid unnecessary mallocs and also provide a flexible API to users.

But most people aren't writing libraries.

Don't underestimate what some programmers trying to prove their cleverness (or just trying to have fun) can do if left unchecked. I think most Rust code does indeed look like this but I've seen plenty of projects that go crazy with lifetimes and generics juggling where they don't have to.