It will add some overhead and extra complexity especially when it comes to port forwarding, but if you know what you're doing, it's not really THAT bad. It seems now most ISPs force you to use their router due to the way they mux the TV, phone and internet so sometimes you have no choice if you already have your own, better router/firewall. For example there is no way I wanted to replace my Pfsense with a crappy SOHO router when I got fibre internet which required to use their Actiontec which is setup to handle the connectivity. Though someone happened to write a custom firmware for an Asus router which allows to setup the internet as passthrough, so I ended up doing that.
Now if your goal is to create separate LANs, your best bet is vlans and a firewall like pfsense that can do inter-vlan routing/rules. But double NAT with multiple routers behind a NAT will work.
I'd be curious to setup like a 100 level NAT to see what kind of performance/latency you get, though. Could make for a funny experiment.