Burnouts are also hard on the rest of the drivetrain. Axles, driveshafts, suspension components give out. Not sure if newer cars are subject to wheelhop but older muscle cars would shake the rear end violently under severe wheelhop when burning out. Brakes/clutches also take a beating holding the car in place. Knew a guy that blew an engine while keeping the tires singing for a few minutes; no airflow through the radiator while the engine is under high loads.
About the only cars where burnout are acceptable are drag/race cars where devices such as a line-lock are employed to eliminate the brakes from overheating. And generally these cars have overbuilt beefier drivetrain components plus tires expressly designed to be heating to the smoking point to develop necessary traction. On your average car, its borderline abuse.