I don't think MS was the first to do this by a long way, other drivers have done so in the past (notably rally drivers, but also other types of racing including F1).
Two things - definately true for when exhausts exited into diffusers and maybe still applies today - the high energy exhaust gasses helped the activate the diffuser (maybe rear wing today?) and create downforce and stability, so to slow a little for a fast corner (Pouhon for example) - riding the brake with the left foot controls speed while still using an open throttle and keeps the car stable, while a quick lift causes instability.
Also, the brake and throttle are rarely fully on together, the drivers blend braking and throttle together - done well this can nudge the car right to the edge of the friction circle. MS seems to be one of the best at doing this, using weight transfer when braking to rotate the car and the throttle to create stability and smoothness so that he is not jumping from brake to throttle. It's all about trading braking force to corner force, then to acceleration - keeping all phases of a corner over-lapping.
I have driven like this (from time to time) ever since I had a car - I never worked out why, it seemed natural because I rode (still do) motorbikes and used to overlap brake & throttle deep into a corner - so I just did the same in cars - MS was definately not first - I doubt I was either