The difference between your positions is not about acute vs chronic, it's about tolerance. If a drug for a long term condition has short term effects the first few times and then they fade under regular use, it's less of a valid treatment. Especially if there is a withdrawal effect, and any negative side effects of regular use.

We absolutely overprescribe a lot of psychiatric meds that do not have significant beneficial long term effects. "Stabilizing" a patient in an inpatient hospital psych ward may as well involve a Magic 8-Ball picking the particular antipsychotic for its short term effects, while on the other hand doctors and nurses put people on Seroquel at the drop of a hat in reported sleep problems, and don't take them off until natural death or until the essential tremors get reported decades later.