At 40 I recently made this switch in style as well. The weight was getting so high that my anxiety was causing a mental aversion to working out altogether. Consistency is really 95% of exercise so I think this is a reasonable trade-off.
That said, I understand where you are coming from. There's something to be said about facing the fear of the weight head on. I've already done that in my younger years though. I'd much rather avoid injury and get 80% of the benefits.
I think that what you do in the gym will reflect on yourself.
When I have 275lbs on my back I'm very anxious that any lapse in focus could cause major injury to my knees, back, etc.
"I will go to the gym, but will not even break sweat, will be fakingly training, just jumping from one machine to another, without plan, execution or dedication" - is the MO of a lot of people in a commercial gym. They are there, but they are definitely running away from hardness. Don't know how well this applies to you.
In life, you need to run to keep the same place. In order to advance, one has to sprint, to put effort. Purposefully slacking and easing often means that practically you are regressing, being left behind.
I understand if you were strong enough, put effort, got the results, and want to scale training down in order to maintain and to concentrate on other more important things. But:
1. You are not that strong. You can definitely build a better strength/muscle foundation that will last the rest of your life. The health retirement fund. It is the easiest to do now, while you are still young. You can do much better.
2. But even if you think that the current level is enough and are only interested in maintaining, the way you do it is clearly suboptimal. Both gaining and maintaining would be easier, faster and more efficient with highter weights and fewer reps. You can also save time because you can do fewer sets in order to get the same maintenance effect. Alternatively, you can keep the same sets/time, but actually progress (or do it faster) instead of staying at the same place. Same cost, bigger psyout. This is the result of doing the right things the right way, instead of giving up and doing something that feels nicer.
Cheers!