It's not primarily about expending too much energy, but rather about expending energy in a way that appears futile relative to an ambitious standard set for oneself.
Just my personal observation, but dovetails well with the learned helplessness theory of depression.
I used to get burnt out at work all the time, but that really hasn't been the case for the last 5 years. The biggest difference is that I'm I'm in charge now. When I say something is going to take X amount of time or that we have to do things in a certain way, management doesn't argue with me anymore. They just accept that is the way it is, because I'm the one in charge of this area of work.
I haven't changed. I still take too long to finish ostensibly "simple" things because I've nerd-sniped myself [0] into over-engineering things. What has changed is my relationship to the management class. They see me as one of them, now, and that confers a level of respect that is, frankly, enraging when you consider the lack of it in the obverse situation. But, I can make things my way and I can protect my team and that's enough.
And a lot of management bravado is from fear and ignorance of how the work is actually done and their ego gets in the way of curiosity.
So then there is a good chance you are not in favor when promoted in to their circle because they can feel threatened.