Absolutely depending on the situation. If the adults are constantly fighting whether it be physically or verbally it creates a toxic atmosphere for children to have to cope with. Children would rather be from a broken home than live in one.
Another scenario is if both of the adults truly love the children but realize they can't be happy as a couple they may strive to work as a team with regard to co-parenting. It is not unheard of for some exes to be better friends than spouses.
A divorce is nothing more than one or both people reaching the conclusion that their marriage is a mistake. What effects the child more than anything else is how the adults handle the divorce as well as how they treat one another. Kids are more resilient than we give them credit for being. - A former child of divorce :-)