Does constantly powering on/off your ps4 wear down the system?

Assuming you actually shut the PS4 down properly, and don't just cut the power, you're fine. Modern electronics won't be adversely affected.

In regards to hard booting, it isn't safe, but it also doesn't wear anything down. The main risk of hard booting is data corruption caused by a hard drive losing power in the middle of a write operation. This is very rare, and virtually everything you'd use today has the ability to detect and correct corruption when (or indeed if) it does happen. Unless critical operating files were being written, everything will probably be fine. There is a(n exceedingly small) chance the power failure will cause the head will physically damage either itself or the disk platter, but I don't know if the OS for a PS4 is stored on the mechanical harddrive or on flash somewhere.

The other vanishingly small risk is the sudden power loss causing a power surge in the motherboard and frying circuitry, which would brick the system. I've seen this happen once in 9 years of tech support.

In closing, you are probably fine, as long as you aren't hard booting.

It actually depends on how you power off the PS4.

If you go through the software menu power off, and wait about a minute between powering off and powering on, then you are fine.

If you hit the power bar to shut off the PS4, unplug it, or basically use any method to cut power to the device directly, then that is bad.

Given you are only turning it on only couple times a day, that is fine. Electronics are OK with occasional uses. Rapid on/off cycles, say, 10 times in a minute, then that something else.