I've sort of been in this position (except lower stakes because just video game bullshit, nothing competitive) and can confirm it does suck. XD

TLDR is I removed myself from a raid group because it was glaringly obvious that I was the weak link and they were too nice to say it, and they progressed to the next boss in the series the very next week afterwards. So, like... yeah. When it's obvious, it's obvious.