Only if you discount the probability that the team that foregoes that long FG attempt goes on to score a touchdown.
More and more teams are attempting to reach the line to gain on 4th down in those situations, particularly in the NCAA. (NFL field goal success rate at +50 yds is about 65%) Both the number of attempts and the success rate has increased greatly over the years. The numbers are showing that the benefit outweighs the risk for some teams.
Fans don't want to see teams kicking 5 FG's each. Neither do the leagues