Yes doing burnouts with your vehicle does ruin your brakes and brake pads.
Burnouts are cool to do but doing the burnouts too often can ruin your brake pads or brake shoes and can also ruin your brake rotors and brake drums.
Your brake pads and brake drums or either of the two depending on which ones you have will wear out much more quickly.
Also your tires will wear out much faster as well.
I would not do burnouts with my vehicle unless it was an older vehicle that I didn't really care about.
I used to think doing burnouts made me look cool as a teenager but when I see teenagers doing it now I think that they do not look cool doing it.
But if you want to do that to your car or vehicle you're free to do so.