The quickest way to not fixing burnout is assuming that it is a natural part of software development, that it's up to individuals to manage their own boundaries, or that the industry is impossible to change. None of these are entirely false nor entirely true, but they do nothing to affect change.
Is the end of overtime exemption a silver bullet? No, but it is a critical step toward creating incentives that do address worker burnout. It shifts a manager's choice from "push the team harder to get out a feature and deal with the consequences later" to "push the team harder and it costs $X."
There is a key piece of perspective that helps to understand this - management rarely has clarity in their business decisions. What drives management toward pushing workers to work more and ignoring burnout is that building product has a more tangible result than burnout. You may ask, "no, management weighs the costs and benefits!" Maybe yours does, but when the benefits are easier to quantify than the costs, the decision is clear.
This is why putting a dollar amount on the decision is so important. It shifts the decision to "possibly build it faster for $X" where the dollar cost amount has more clarity than the benefits. It doesn't mean management chooses not to build faster every time, but the decision framing does change the response. Anyone in management knows what clarity in business decisions means and how it affects outcomes.