I think there are a couple of things here. One is that most early retirees, at least many on this board, really dislike work, and are willing to modify their lifestyles and expectations to achieve freedom from work. But a financial planner's clients are mostly going to be upper middle class people with upper middle class expectations.
If he counsels them to be too conservative, and they wind up with too much money, is he likely to get sued over that? On the other hand, if he says "go for it, it will really be fun", and they wind up on catfood, then I wouldn't want to be that planner.
How much money one needs to live is a very personal thing. Some people enjoy things like the Tightwad Gazette, others enjoy $1500 cashmere coats.
Think how little most of us had when we were students. But we had a ball on that very tight budget.
When the planner says $1 million will throw of $50,000 a year, but that isn't a "get out of town budget", it's clear to me that it wouldn't be for most people. And it may be an excessive draw too.
Still, if one likes to stay in hostels, camp out, etc. etc., that changes things a lot.
I think the people who post here are a very small group who really fit this style of living, and even more important, are single or who happened to have or have changed to spouses/SOs that think and feel the same way.
So overall, I don't fault planners for espousing a conservative path. Risk takers will figure out how to find out what they need to know anyway.
It's like learning to dance. If you go to a teacher, you learn a pretty conservative dance style. If what you want is dirty dancing, you have to hang out in clubs and figure it out for yourself.
Mikey