No, it is totally fine and can be done for a long time with no loss of vigor or quality. The thing that is important though is that good robust cuttings should be taken from a healthy mother plant.
If a mother plant is in poor health, like grown with not enough light, is root bound, or isnt thinned out and pruned down from time to time, it will just have spindly stressed out shoots on it. When those are cloned and grown out they produce feeble plants that dont do very well.
I think thats what people attribute "genetic drift" to (the loss of vigor and quality), but as long as new mother plants are always started with fat healthy clones that process can be kept going for many years.
