The "quiet quitting" panic made me defend it, now I get the pushback

I used to roll my eyes at the whole quiet quitting thing back in 2023, figured it was just people being lazy and calling it a movement. Then my buddy in Austin got burned out working 60 hour weeks at his marketing firm, so he stopped going above and beyond, and honestly his output stayed the same. But after 6 months of watching him get passed over for two promotions, I saw the other side. The issue is managers notice when you stop volunteering for extra stuff, even if your core job is fine. Has anyone else seen quiet quitting screw someone over when they actually wanted to move up later, or is it really just about setting boundaries?