Jens, I am English Lit major, and I had the same crisis last year. I am really good at analyzing texts and writing academic essays about them, but I began to get this creeping feeling that the whole discipline was bullshit. It became overwhelming and I actually had days when I cried. I had been so aimless in my life for so long and when I started taking Lit classes it just clicked for me and I felt "this is it!" and then when I realized it was a giant circle jerk I was shattered because I didn't want to spend my time doing analysis that is worthless. I actually got the the point that I went to some trusted professors on the verge of tears and asked them what the point was. Why do we bother studying Literature? It dosen't make the general population read/understand/care about these works any more. The profession is filled with pretentious self-important twats who just argue with each other about points which make no difference to the world in the end. It's not like we are going to cure cancer by debating the meaning of Belinda's relationship with Mr. Vincent in Maria Edgeworth's novel Belinda from 1801. I've sort of reached a solution for myself though.
I genuinely enjoy this sort of analysis, and I am good at it, but to feel good about it I have focused myself, and decided not to make the thesis which is easy, but ones which can fit within my larger understanding of the purpose of literary analysis. Which, I think, is something you have to discover for yourself. I don't know what mode of analysis is emphasized in your University, but I personally find some of the forms that professors push pointless, and so I avoid them. I don't believe in authorial authority, and so I refuse to write a paper which has a thesis like "Defoe wants us to see that the emerging marketplace is dangerous for young women." I don't know what your focus is within Lit, but it may be good for you to look into other critical theories to see if one of them fits better for you and doesn't feel like it makes texts lifeless and dry. Reading scholarly analysis is what got me into the crisis, but it is also what got me out of it.
As far as where to go in life as sappy as it sounds I am a firm believer in doing what makes you happy. If for you that is writing, then you should go for it. That being said it is important to have realistic expectations, you will have a hard time becoming a published writer who writes books which come from your heart. But there are other careers which rely on writing and if you enjoy writing and are good at it a job writing ad copy, or even something ridiculous like translating catalogs (if that job even exists) uses skills you have, involves daily work you don't hate doing, and which will only strengthen your mastery of language increasing the chances that the writing you do for yourself will find success.