Quiet quitting is an interesting phenomenon. A lot of people do minimal work and yet get the promotions while there are the 'Boxers' who do a lot of work and get nowhere. I think working hard is a base standard but folks have to look out for themselves and work for the right bosses and the right companies.
In thirty years of work, I am yet to actually see this happen. I have seen it happen occasionally that people who have been promoted earlier, run out of steam later in their careers.