Oh yeah for sure. I imagine it could be balanced out by having it happen only when your disinherited offspring can't gain lands of their own because your faction controls too much of the map, so you either have to gift them fiefs to keep them happy or there's a chance they'll rebel and split the empire. If your first character dies without taking over at least 75% of the map, there wouldn't be much reason for your offspring to revolt because they can just take fiefs through conquest.