Automobiles are more (wear-)efficient at braking when they use the engine to brake, not the brakes, so that would probably be a better approach to automate
I have to admit I don't know the exact wear characteristics of an IC engine in breaking operation but I don't think it is any different/more than it's normal running wear.
Which means that there will be some friction braking before internal engine resistance "takes over". Now, while both brake pads and clutches use "similar" material, it's not the same, and the cost is not the same (clutches are usually more expensive in modern cars).
FWIW, modern flywheel clutch kits are way more expensive than brake pads, so the cost is not so clear cut anyway.