I researched and wrote a published article about male adult stars, so I know a bit about it.
The answer to the first question is - the adult industry carries as big a variation of individuals as any comparably sized industry - it really does take all sorts, from business-savvy people who make millions at one end, to anonymous abused drug addicts at the other end.
A lot of men fantasise about it, but it really is a 'profession', and only professionals last any length of time in the industry. For either sex, you need to be an exhibitionist, to want to be watched, and you have to be aware that it can make relationships outside the industry very difficult to create and maintain - it's difficult to find a partner who understands what you do for a living!
Not something I could do for a number of reasons - I am married, I am too old, I am not attractive enough, and even if those were not a consideration, I don;t know a woman who wants to get into it.
In order to stand a chance as male perfomer these days, you have to arrive with a woman with whom you can perform for an audition. She may make it, you may not, but you won;t get looked at on your own.
Hope that helps!