I actually think it could help. While I think it's possible that people might be more frustrated (as you speculate), most of the parents I've interacted with are more likely to give slack to a ref who is "newer", for example. Additionally, there is a psychological aspect of "write it off, this ref is known garbage" which tends to happen in games with a particularly poor official (where anger tends to turn to just more quiet laughing about bad calls, etc., in cases where the kids are not in much danger). On balance, I would think this is likely better; it obviously won't mitigate disrespect for bad officials (nothing will do that, aside from making them improve), but it could reduce the amount of anger on the sidelines.
Case in point: my son's team had an official for the last couple games who was very "card happy". He issued around 8 cards in the first game, including one each for two coaches, where in one case the coach was just trying to direct the CR's attention to the AR's call (the CR carded the coach for yelling at him, then talked to the AR, then carded the other player who had stomped on the opponent, as flagged by the AR and ignored by the CR until the coach yelled at him to pay attention). He issued around 5 cards in the second game also, iirc, including a direct red during half time for a player who said the F-word in frustration after the official didn't allow his team to take a corner before blowing the half-time whistle.
This was an objectively frustrating official, but because the parents knew he was bad going in, there wasn't as much frustration expressed from the sidelines during the second game. There was some laughing and head-shaking for sure, but we knew he was sorta bad, and we knew what to expect (and, in fairness, he was bad fairly equally to both teams in most cases). Furthermore, while he was issuing cards like candy, the game wasn't particularly dangerous, so in the larger sense he wasn't that bad, and I'd probably be okay with him officiating other games personally (compared to some other officials). The key is just knowing what the expect going in, and adjusting your expectations; that can do a lot to mitigate frustrations, at least in my experience.