Yes, but I assert that it's possible to use transactions to update everything consistently. Serializable transactions weren't really common when MySQL/Postgres
first came out, but now that they're common in new DBs + ACID, I think it's not possible to do with reasonable difficulty. If you agree with this, than its easy to prove that denormalized tables performance increase is well worth the annoyance of updating everything to transactionally update the dependencies.
I won't say that it's trivial to update all of your business logic to do this, but I think it's definitely worth it for a new project at least.