The problem here is that you're thinking of encounter powers in terms of fatigue, when that isn't the only thing at work - or even a particularly important element.
All encounter powers say is "you can't do this over and over again".
The reason they don't make much effort to tie it to any one explanation (aside from the 'fudge' where encounter powers are regained by taking a tea break) is that representing everything that's at work would make for a broken and unplayable mess, and would be potentially "too random". And focusing on one thing to the exclusion of all else would be weird.
It's far easier to just write the rule and let the DM decide which factor is in play, when, and how, as she would do when narrating hitpoints.
One of the biggest factors is actually the separation of player and character knowledge - simply put, your character knows nothing of hitpoints. What you see as an awesome crit, your character sees as a failure. She hasn't slowed her opponent meaningfully in the slightest, and she's not necessarily going to be enthusiastic about trying that Mysterious and Exotic Technique again.
There's also opportunity - the situation isn't always going to be nice enough to let you try one specific Mysterious and Exotic Technique.
Finally, there's composure. It's not easy to concentrate on your Mysterious Exotic Technique while standing in a room with something that's adamant that it doesn't want you alive any more.
It's been done, but it was never finished, and they didn't think it through properly. Basically like the arcane swordsage, except they pretended that it was finished.I would love to see a write up of 3.5 magic using the pp system (or 4e's other sources working more like the pp system)