It really depends on the size of the brakes. The real reason to fit bigger wheels is to clear larger brakes for better stopping power. Usually a higher performance trim level will have larger brakes to make up for the extra speed or weight. But that became a styling trend that just trickled down in a lot of cases to "it looks cool" because you see it on so many performance cars. Many cars now have gigantic wheels that can easily be downsized.

I know a couple people who have done it. You get much better ride because you have taller sidewalls, and you're much less likely to destroy a tire when you hit an object. These massive wheels on cars now are totally ridiculous.