Ok, I should have been more clear. You are correct; I'm against exhaustion on a timer; IE, being forced to camp every 5 minutes because an in-game day passed. I understand it as a status effect from items/monsters/abilities.
I would argue that, if you went 24 hours without resting, exhaustion should be on the table. While this is a video game, and a fantasy one at that, having physical limitations on your characters only increases the immersion imo.