Quantum experiment undermines the notion of objective reality
You're mixing up "medium" with the QM wavefunction. That's a linguistic mistake, which is understandable because the word "wave" is in there.
You also confuse the physical property of "energy", which can really only be defined in mathematical terms in specific contexts with what you say is its linguistic definition, "the ability to do work".
But even linguistically, that is still not quite right. Here is the first sentence from the Wikipedia article on "energy":
"In physics, energy is the quantitative property that must be transferred to an object in order to perform work on, or to heat, the object."
So if you get to a state like "heat death", energy can no longer be transferred. "the quantitative property that must be transferred in order to perform work" is still there, but no such transfer is possible and there is no longer any "ability to do work".