No, it doesn't. Pushing people to burn out doesn't make more or better products, it just burns people out. People are more productive when they have work life balance

As someone in the industry I feel the opposite. A lot of features that are almost finished but cut despite being integral to the experience come from higher up pressure. The expectation to always overwork leaves no room to commit a little bit extra when it's necessary because you're always drained to begin with. There is also no room for creativity, playing around, or polish, because the deadlines are based on the bare minimum that will sell.

Based on what evidence?