You are correct, bleeding water off does not add head, which is why it consumes more power. A centrifugal pump is like a fan, not like a positive displacement pump. When you do add head, you decrease the flow which reduces the work required of the pump. When you bleed the flow or pressure off, the pump has already dne the work to pump that water, only to dump it back in the sump so the damage, or power has already been consumed. Again, its not my law or theory, this was proven in the late 1600's by Isaac Newton, later in the 1700's by Bernoulli and again in later years with the Affiniy Laws which apply to centrifugal force, speed and impeller diameters and how the affect each other. It is not easy to understand and if you agree or not it is fact, not my opinion. Maybe a hydraulic engineer could step in and explain it better without having to read all the theories. Really the easiest way though is with a Kill A Watt meter to record power consumption with the two modes we are talking about, bleed off flow or restricting flow.
Again we are talking about centrifugal pumps which are similar to a fan in that there is centrifugal force in play and a calculated amount of slippage or wastd energy unlike a positive displacement constant speed pump.