I would not go that far. If you repeatedly turn down a friend you won't get invited any more.
If meeting up with a friend every few weeks instead of nightly means you no longer want anything to do with that person, I doubt the friendship was that strong to begin with.
Also, there's a difference between having a friend turn down a one to one meetup versus turning down a party of 30 people, 20 of whom they don't really know.
The realization that helped me here is that people don’t think about you as much as you think they do.
So, for example, if you ignore most events, and just join these events once every few weeks, it’s not like people will think any less of you.
I decided to skip a lot more of these events and instead meet smaller groups of friends for last moment smaller hang outs instead. Maybe just grab a 30 min walk after work or grab a coffee or a couple of drinks a weekend morning.