Writing to flash memory wears it out. So technically yes, doing a factory reset will wear it out.
But how long will that last? Could be 10 years, could be tomorrow if the SSD controller croaks. But I'm pretty sure the battery will give out first (as in, barely holds a charge) if you use the tablet a lot than the SSD running out of P/E cycles.
Then there's the question of why you're doing the factory reset that many times.