It's not exactly a super-dramatic "apres moi, le deluge" situation like with Putin or the OG Louis XIV, but it's a model of government the Chinese should be hesitant to revert to. Historically the competent emperors usually build the empire and fix the damage done by the bad emperors, but after you get an unbroken succession of bad emperors, there's too much damage done to the underlying infrastructure that holds up the economy/society/state, and even a good emperor can't save the situation. Then the dynasty falls, and that's the terrible deluge.
Of course, with the current Chinese model of reckless economic development and concomitant acceleration of societal stresses and strains, it might take just one "bad emperor" to bring the whole thing crashing down. I guess it depends on whether you believe the Chinese economic miracle is built on a foundation of paper houses. If so, then the historical model probably doesn't apply so much, as in the old days the sheer inertia of the extensive Chinese civilizational infrastructure was enough to keep a dynasty going even through a long string of bad emperors.