Burned exhaust valves and the resulting loss of compression and misfire trouble codes are not unheard of, but I wouldn't say it's "common". If you search this forum, you'll find mention of it.
It usually shows up at a lower mileage than that (sometimes 30,000 miles!) and it seems that if the car makes it past 50,000 - 60,000 mi, it is a good one and will probably go the distance. But it's certainly not impossible for it to happen around 60,000 mi or at ANY mileage.
I bought mine with 89,000 km on it and sold it more than a year ago at 237,000 km, and I know it's still on the road.
I don't think the root cause of this was ever established.