No, that is not a traditional method for making carnitas. Carnitas is a Mexican dish that involves slow-cooking pork until it becomes tender and flavorful. The traditional way of making carnitas typically involves simmering pork in lard or oil until it becomes crispy on the outside while remaining tender and juicy on the inside.
There are variations in the cooking methods for carnitas, but boiling the pork in Pepsi and then baking it is not a common or traditional approach. Different regions and households may have their own unique recipes or techniques, but the method you described is not widely recognized as a traditional or authentic way to prepare carnitas.