Setting the SSD Drive back to its "factory-fresh state" doesn't do anything to 'restore the lifetime of the flash cells'.
The 'flash cells' are, essentially, 'damaged' each time data is written to them.
Flash circuits that are 'smaller geometry' are, apparently, 'damaged more/quicker'.
There are various schemes that are used to limit/mitigate this damaged but the damage done by writing does exist and cannot be undone. (Chiefly those being 'wear leveling' and 'spare cells'.)
So this process WILL NOT extend the life of your SSD due to damage casued by writing to the flash cells. (If you had one of the drives that "STUPIDLY" overwrites it's log file space and bricks itself, then this may get around that issue...
Returning the drive to its 'factory-fresh state' only has to do with the contents of the drive, any configuration settings that the drive may store, and probably any log information contained on the drive.
Basically kind of like 'setting your Computer's Motherboard Configuration to defaults'. (Or 'popping out the CMOS Battery' to clear the configuration on the motherboard.)