Being able to use every bit of power the vehicle can put to the ground is going to be harder on parts than just mindlessly cutting throttle when wheel spin is detected. I'm fine with that trade-off if it means I can give my grocery getter traction control that's tuned for maintaining forward progress in low traction (like what most of the new Jeeps do if you set the dial to "rocks") as opposed to preventing wheel spin by cutting throttle (what basically everything else does). CV joints were just an example of a part that might wear out sooner and a hypothetical justification for using the dumb kind of traction control.

I don't know where you learned about traction control, but the normal way it operates is to apply the brakes on the wheel that's spinning so torque is redirected to the other wheel.

That's how it works in theory and did on some of the first generation systems. In practice most manufacturers cut throttle too (assuming throttle by wire, which most new vehicles have) and you often have to pay for some "off road" trim to get the little button that makes it not cut throttle. On a lot of AWD mom-mobiles you can't even get that option. Also, most traction control systems aren't tuned to hit the brake on the spinning wheel aggressively enough (IMO).

The Episode of Dirt Every Day where he takes a Jeep Compass off roading (it's on youtube somewhere) is a great example of what you can do with good traction control.