This is important, but there's another dimension to it, too.
Say you have a high performer and they get a lot of praise to the extent where you can see that people are starting to feel irritated by it.
That person then tries to raise the alarm about something that management should divert immediate attention to.
The people around them are sick of hearing about the employee, so brush it off and ignore it, and the problem gets steadily worse.
The person still gets praised for routine, ad hoc projects, but the fundamental issue of understanding that they can accurately diagnose a problem is not recognised or understood.
You can then end up in a conflict where the employee feels miserably underappreciated, and the company says, "I don't know what you're talking about! I give you plenty of praise!" but they've got it completely wrong.
It's not about giving them a pat on the head; it's about having the respect to value their professional expertise.