For those that get chopped...there is another hope. Likely as not, there will be an increased demand for commercial pilots in the near future. The lifestyle is great, you do get to fly for a living and the pay's good enough that you can fly aeros, formation etc in your spare time (and there's more of that). May not be what you want to hear right now but as a TRI/TRE for a major airline and a display aerobatic and formation pilot (with my specs on, hence no RAF) I can honestly say that it's not a bad life...
Good luck wherever it takes you