It's quite a common misconception to want to bet large on this kind of draw-heavy board.
You want to play defence when out of position, and even more cautiously when deep on such a dynamic texture. Your equity is much less stable, and once you start checking later on once the board complicated, BTN can start to put you in some nasty spots. This is exactly what happened in the hand, and even if you had a less vulnerable hand like AA, it would run into similar problems given how dynamic the boad is.
It's understandable to want to protect but this is an illusion since IP will never fold a straight or flush draw, so you are not actually protecting anything.