Having coached a junior team and having paddled on an adult team ages ago, I would say I'm a paddler first.
However, as a coach, I also feel obligated to watch and debrief at least some of the races my juniors had. Even though I am a committed paddler for my adult team, I am also a committed coach. I don't feel it would be fair to my juniors if I were never around. Not to say that I will baby them and be with them every step of the way through the entire festival or regatta, but they do deserve a fair share of my time.
As a coach, I want to see the team I coach grow, and I don't see that happening without constructive feedback in their racing. Racing experience is very important to their development and they need someone to tell them how they did. It's difficult too sometimes especially when the team you paddle for hassles you for running around trying to help your juniors, but after spending so much time watching the younguns develop, I feel that I owe them this, I owe them some of my time... not just because I have to, but because I want to.
Think of it as... passing on the torch. One day, us oldies won't be able to paddle anymore... someone needs to take our place

I hope I haven't lost anyone either.