I do use standby and practically never turn off computers anymore now, unless I'm away for more than a couple days. I don't let them go to standby by themselves ever, though, for the desktop computers, only for laptops. (I do for the displays.)
So I just put them to standby when I leave, instead of shutting them down. Avoids having to wait for rebooting and setting back your session as it was for getting back to work - it doesn't look like much, but always annoying.
Using standby also on Linux, absolutely zero problem here. But the typical number of cycles per day is 1 to 2 for desktop computers.
Unless you have many standby/resume cycles per day and you use spinning HDDs, it can only make your hardware last longer. (And even with HDDs, it would take a lot of cycles to even shorten their lifetime.)
If you have a dodgy PSU, it may shorten its lifetime a bit, maybe, but if it's a decent one, it can again only make things better compared to letting it on 24/7.
And of course there's your electricity bill.