Especially when it comes to gun hunting, where long shots are possible (shots to areas beyond the influence of your presence), overhunting a stand can sometimes be less of a problem. But for "close up" stand set-ups, especially those for bow-ranges (shots inside 30 yards), over-hunting a stand can be a real problem, if you are hunting for older, more experienced deer.
Now unique situations can exist, such as finding stand sites that take advantage of escape routes and other hunting pressure related movement, or highly restricted movement (tight habitat/terrain bottlenecks), but in most hunting situations, older more experienced deer quickly pick up on our hunting locations and learn to avoid those areas at least during daylight. And contrary to what most hunters assume, it isn't about deer "busting you" while you are on stand. It is simply about the massive amount of scent-carrying particles that pour off your body and clothing continuously. Those scent carrying particles cover the ground around your stand as you sit there. Deer can smell these particles long after you leave the stand. Older, more experienced don't need to smell you while your hunting. They can smell you were there for long periods of time afterwards (even a week or more afterwards). The more times you hunt a particular stand, the more human scent buildup occurs in the area, and the more obvious your past presence is to deer, making it easier for them to avoid the area in the future.