The VOIDRUNNER'S CODEX is coming! Explore new worlds, fight oppressive empires, fend off fearsome aliens, and wield deadly psionics with this comprehensive boxed set expansion for 5E and A5E!
I think the damage dice trade is to emulate a more difficult targeted attack to gain more damage.
I guess it could apply to making a more difficult spell casting with the same effect. It's in keeping with the risk vs reward idea behind the mechanic, so I would say yes.