First of all, the 35A on Efest batteries is very aggressive. The batteries they use under the wrapper generally have a max rating of more like 20A.
Secondly, yes the harder you use a battery the faster it wears out. Especially if it's getting hot, then it will wear out even faster. By wear out I mean it will not hit as hard and will not last as long.
I will only briefly mention the safety aspects here because I think they're obvious, but obviously the other issue is you have much less margin of error if you're pushing your batteries really hard. If something goes a little wrong like a stuck button or damaged component in your mod, you're much more likely to have an vented battery, so that's the other issue.