Yes. It's been a health problem a lot of body builders face. I believe the effect on the kidneys is particularly bad. Processing all that extra protein overworks the kidneys and can lead to scarring and eventually decline. Drinking tons of water can mitigate the harm, however.

But that's just the effect on the kidneys. The liver damage and effect on the heart due to high cholesterol intake can't be mitigated with extra water.

Although, the high cholesterol can be countered by using vegan protein supplements instead of whey or animal based.

Still, intentionally overdosing on protein had it's risks.