I see some people here in the comments saying that it could damage it… but the real answer is that it’s not damage but actual wear over time… any drive has a maximum write/ reads before the performance goes to shxt, but even then, before your storage is completely done in terms of write/reads health, you probably would have a new phone… I see people still running on 6s and iPhone 8, and I’ve never heard of any storage failure yet from an iPhone… Also reinitializing/wiping to factory data, your phone can fix some OS corruption along the way. So why would resets ruin or damage it ? :)

I used to wipe a lot of times my last 4 phones I got from android to iPhone Mix and never had any issues ( sometimes I would eventually wipe my phone storage like 40 times a month)

Just enjoy your phone and maybe stop wiping it continuously because it takes away your enjoyment time off your phone, don’t you think? :)