Kinda.
AAA graphics/UI/sound/music Solasta.
Warhammer would kind of be the idealized vision of that, yes, particularly Warhammer Fantasy, as opposed to the more aggressively grimdark Warhammer 40K. However, we must consider that DOS2 attempted to do Jokey Grimdark and merely landed on "crapsack world but everyone is sarcastic and snarks a lot", and I think most attempts at combining humour and grimdark tend to be car crashes, especially if they're not kind of low-fi/indie. Even the recent initially-good Rogue Trader CRPG eventually lets the impulse to grimdarkery crash it into a wall, and I suspect unrestrained grimdarkery would do the same with a future Larian game.
I think the key for Larian will be restraint in all things, and oddly, that's what BG3 forced them into. They couldn't just "do what they wanted". So when I see Swen crowing that they can "do what they want" creatively now and saying how limiting the BG licence was (which he actually complained about a fair bit before BG3 came out, though much less after*) I worry. For them and us.
I suspect your swandive simile will be apt. They'll probably make some games with some cool ideas, but unless they've really learned a lesson from BG3 (and I suspect Swen at least has learned nothing), they'll probably just be burning BG3 money until they run out and get bought, which will, conveniently, be about when Swen would early-retire anyway.
* = Presumably because he's basically having $100 bills blasted into his face 24/7.