They also overlap. A dancer could transition into a dance teacher or choreographer as they age. Someone could also be several at once. There are plenty of dance teachers that choreograph their class's routine and still take dance classes themselves.
The con about this route, is that not everyone would necessarily be accepted into the program. Since the three careers I listed earlier all strain from the same program, there is no fall back degree unless I choose to take another career entirely or go straight to a workplace.
These careers are both a contingency plan and not. The degree is valid for all of them, so it's this way, or no post secondary. That being said, going straight to a workplace is also an option. You don't need this training to go to auditions or apply for a job at a dance studio, although it is a nice addition to your resume.