The encounters seem to be designed to all be rested inbetween. I finished the early access and I only recall a single location that wouldn't let me fast travel (i.e. go back to camp and rest).

There's really no downside to blowing all your per-day resources in a single encounter because you can just rest in-between pretty much every single encounter in the game.

I definitely agree with the heart of your criticism. I agree that the game is not balanced in the same way that a DnD campaign would be, but if you play it within the restrictions of the video game I don't think it's difficult.

I do think that re-balancing everything so the encounters are less punishing and resting isn't so readily available would be a good change.