You’re correct that nesting namespaces is unlikely to introduce measurable performance degradation. For performance, I was thinking mostly in the nested virtual network stack adding latency. Both docker and lxc run their own virtual interfaces.
There’s also the issue of running nested apparmor, selinux, and/or seccomp checks on processes in the child containers. I know that single instances of those are often enough to kill performance on highly latency sensitive applications (SAP netweaver is the example that comes to mind) so I would imagine two instances of those checks would exacerbate those concerns.
Just think, an extra long shirt can cover that hole, and we could embed a flexible display, wifi module, and a camera in the extra space. This could scan the faces of those around you, and display personalized ads! This is an excellent solution to the hole in your pants, and frankly, the only secure one.