I see two potential snags: you can't change the kernel command line, and you cannot downgrade to a known-buggy kernel version. There is some flexibility around

I see two potential snags: you can't change the kernel command line, and you cannot downgrade to a known-buggy kernel version. There is some flexibility around the kernel command line, so in practice you may still be able to use some whitelisted kernel parameters. (If your distro puts in the effort.) Lack of downgrades could be a problem. You might upgrade the kernel and find that it is broken, and that you've also lost the ability to boot your previous kernel. Both risks seem acceptable in a corporate environment, but perhaps not for the home user.