It's possible to survive with that sort of tinnitus, whether you actually live your life is up to you (die trying, try and succeed, or never try at all).
I have severe somatic tinnitus along with pulsatile tinnitus. It sounds like a high pitched dentist drill x10 with a dog-whistle, and throw in some background static for effect. I also get that noise that sounds like the damn lightsabers on Star Wars. Gives me a headache sometimes.
I can hear mine over a lawnmower, the shower, and all that pleasant loud stuff; but it's safe to say that I am living with it, yes. My quality of life depends on the day, week, month, etc. Some days/week/months are harder than others. I have days when I think 'eh. It's not that bad' and then days in which all I can think about is the noise. But those bad days have lessened a LOT since I first got tinnitus. I went back to work, I'm preparing for college again, and I go out a lot more than I used too. Everyday stuff that I took for granted, really.
I know you don't believe habituation is possible. That's fine. Neither did I, especially early on. My goal was never to habituate. It was simply to return back to my normal, mundane life. Learning how to process the fact that i had tinnitus. Learning not to cry everyday was the first step. The next was trying not to lash out in anger at everybody and everything; learning that everyday noises weren't going to ruin my life (usually just cause a spike but nothing serious); etc. Baby steps, really.
Over time, learning how to adjust turned into what everybody calls 'habituation'.
Am I cured because I'm habituated? No. But I'm doing better because of it. I don't remember the last time i cried or got angry at somebody or lashed out because of a noise. It's not a perfect cure because it's not a cure. Habituation won't erase your tinnitus but it should "erase" your feelings towards it -- which will always seem impossible until it suddenly just happens. You'll have good and bad days, but hopefully more good than bad. I actually don't remember when I stopped caring as much about it. I just kind of realised one day that It didn't bother me like it used too.
Of course, you have a certain mindset towards your tinnitus and especially habituation, and I don't believe anybody will persuade you out of it, no matter what they say; so don't take this as preaching habituation like some sort of religion that you need to convert to in order to be 'saved'. I'm just talking about my experience and many others. Some are unfortunate, the majority are not.
You'll only be able to live with it if you're willing to try first. What quality of life you'll have, I don't know; hopefully one that improves with time. Your tinnitus could disappear or lessen over time. They say it takes 2 years (some say 6 months but it's generally 2 years or so) for it to be considered chronic but people have had their tinnitus disappear after 10 years; or at least have it settle overtime.
Anyway, hope you feel better someday.