As I said last thread, it can work on a scale where you have some control over the follow-up development.
Society where some slaves were in administrative roles, some in skilled work, and some in menial work (such as Roman republic) should take liberation pretty well, there's a spread of skills and pool of knowledge allowing that slave population to live on as free citizens.
But liberating population of people who only knew menial work all their life and leaving them to their own devices can turn nasty - they may not understand concept of commerce, or long term planning, or basic literacy. Setting them up to either suffer and starve or turn to banditry.
Liberation shouldn't be once-and-done decision but gradual proces of (re)socialization. Which is largely incompatible with "solve the problem with heroic intervention, reap rewards, and move on" idea of adventuring.