No.
It's a minor.
Well, in real-world diplomacy, you'd still take a hit with some nations no matter how small the target state. Your evil friends might admire the sudden brutality, but peaceful folks wouldn't.
But I guess I just explained myself mostly out of my objection. The game favors war. I finally finished a war win this week, but it doesn't seem to have taken me all the way through my notion that GC2 is at least as much a free-play toy as it is a competitive game. It's a bit more game than toy, at the least.