I think you can look at this from a mercenary perspective too. It costs nothing more to show up and work hard than it does to show up and do the minimum. You're giving up the same amount of time either way. But there's a lot more upside for hard workers, at least at firms that have a career track for software engineers. There are other variables, but other things being equal, folks who get things done tend to advance faster.

I definitely agree that you should not break your back and work 24/7 for someone else's vision. Or at a minimum you need to consider how factors beyond your control might zero out your investment. But that goes for anything.