Not necessarily, at least not in my case. Burnout came from multiple layers of management slightly gaslighting the dev team by acknowledging the issues we brought up, acknowledging these issues were making us slow, that the product which came from the startup phase was full of bugs that got even worse when scaling up, and then just not listening to our suggestions on how to align the business plan with a technical health plan. Worse than that: fake listening and then just ignoring those suggestions on the next quarter planning as if they were never brought up, shoving down our throats their demands for features without regards to our technical notes on why it wouldn't be feasible for the next year with the current state of the codebase.
It was extremely demoralising and demotivating, we were not chasing a complete refactoring, we weren't suggesting a 2nd system, we worked pretty hard to come up with a feasible plan for how we could achieve X business goal while needing to do Y technical aspect to properly scale and remove toil. We tracked how much time was spent on toil, how much that cost the company and how much we expected to save in the next 1-5 years depending on what suggestions and pace they bought into. It was a lot of effort to have hard data and facts, tracking code flows that were extremely convoluted and massively increased cognitive overload, etc.
It never worked, every quarter the demands were to implement new features on top of the ball of mud while having to do constant firefights when, inevitably, the shit parts would break and our B2B customers would be ringing all alarms with the salespeople.
It didn't come from years trying to achieve a goal, it came fast, in 2-3 quarters.
They simply never listened to the people they hired as experts, I burned out and had to change jobs and it took more than a year to recover from it.