It really depends on your personal psychology. After I burnt out in a demanding role that I adopted as a big part of my identity, I joined a new company vowing to not take work as seriously (I remember telling myself, "if excess effort isn't rewarded, the optimal strategy is to maximize compensation, minimize necessary effort, and eliminate excess effort").
After a few months of recovery and ruminating on why I still felt so bad (plus therapy), I learned a few things about myself:
1. I feel like garbage when I'm half-assing something at work or not giving my all -- especially when the people around me are putting in the work.
2. When I am giving my all and I feel like I'm not being recognized, I begin to lose motivation and burn out. Simple tasks become very laborious. This is a gradual, months-long process that is difficult to recognize is happening.
3. When I start to burn out, I am forced by my mind and body to half-ass things, which makes me more demotivated, which exacerbates the burnout.
Putting these insights into action, I've so far been able to keep burnout at bay by finding roles where I can give work my all, receive recognition, and be surrounded by others who are putting in similar effort. This doesn't mean blindly trusting the company or destroying my work-life balance -- I believe that "recognition for hard work" includes proactively protecting hard workers from their workaholic tendencies and giving them the flexibility to take breaks. I'm lucky to work with really great people where I frequently pass along responsibilities or take work from others to avoid over-stressing any one person and enable things like multi-week vacations. I have no idea how I will change my approach if I lose this workplace dynamic or pick up more forcing functions on my workday (e.g. having kids) in the future, but it's working pretty well for me right now.
All of this is to say: for me, the low-trust "do the bare minimum to stay employed" approach didn't actually help me get out of burnout into fulfillment -- What helped was finding a work situation where I could give my all and not feel taken advantage of. People are wired differently, so I want to caution against a one-size-fits-all approach.