I think you're misunderstanding their tactic here. They aren't working less than their peers, they just also aren't working to their 100% capacity at all times

I think you're misunderstanding their tactic here. They aren't working less than their peers, they just also aren't working to their 100% capacity at all times because it burns you out. I've done it myself in the past, and it works, for a time, but it's really only delaying the inevitable. The solution for me was to find a different company that valued what I brought to them, instead of treating me like a functionary in their "process". But, that's a hard thing to do, so I can understand developing a coping mechanism.