You are basically correct regarding how traction control on your wife’s Honda works.
In reality, though, the brakes are not used “non-stop”. In fact, the brakes on one wheel are only activated by the system when one wheel on an axle is rotating at an appreciably higher rate than the other (an indication of loss of traction on the faster spinning wheel).
In other words, the traction control system is dormant until a loss of traction is actually detected. it is not an “active” system.
That said, this type of traction control can result in higher rates of brake wear than a similar non-traction control car.
Long story short, I’d shell out the $40 buck per rotor. That is WAY less expensive than most.
Perhaps he might want to get his wife to lose weight, add a counterweight, redistribute the illegal aliens or 'shine she's carrying...