While what you are saying may be 100% true, I think that basically everybody is capable of being driven over the edge by chronic stress. Everybody has a tipping point. That's normal. Perhaps the difference is what occurs after that point.
Yes and no. OP is drawing out a very important point that despite everyone having a tipping point, psychiatric illness is very real and very different from what most people's tipping point looks like, both in trigger and outcome. It's less like a linear scale and more like an on/off switch when it hits. Having an understanding of what it looks like, how to help manage it, and what can / cannot be controlled, can be the difference in having a good (recoverable) outcome vs a really bad one.
It's not to disparage stress and its impact on all of us, but what happens to folks w/ psychiatric illness is a whole other level of devastating.
I think it's also important to focus on what happens before that point. Learn to identify the chronic stress and change something. Quit jobs that are hurting you.
Yeah I think it also depends on other health factors - if OP was chronically sleep deprived that can make psychosis much more likely, and obviously it's also possible for recreational drug use to be a factor.