Salary hike thoughts

Hi Coaches,
I got my salary hike letter from my manager. He tells me “You meet expectations. You are doing just fine. You are on track for your promotion next year, and here is your new number”. The number is low in my opinion, but what bothers me are him saying “I meet expectations”. According to me I exceeded expectations, After listening to Brooke and joining SCS, I have over delivered at work, set new goals, work after hours because i want to get as much done, remove distractions and much more. But the recognition doesn’t seem to be coming, which is disappointing.
My brain just wants to throw the towel and I’ve been having thoughts like –
yeah, whats the point of all your work?
Someone else in your team out performs and gets all the ratings

I know I have literally made a 180 compared to my previous jobs, but the reward isn’t coming. Where is it?
What am I doing wrong here?
My goal is to be the best in my team. It feels like unachievable 🙁
I appreciate your advice in this situation. How can I motivate myself to keep going?