Hell no. Regardless of the current damage/health ratios and whether things are completely balanced, the current disabling system is miles better than what we had in BF3. If you take a hit to the wheels or track or rotor or something, it goes offline for a few seconds, leaves you vulnerable, but then you are back at it. I fucking hated having to bail out of my vehicles once I met a certain health threshold and then not being able to repair them myself unless somebody else was in it like it was in BF3.
I will agree that there should be better visuals cues for what is happening to your vehicle, whether or not you are immobilized, etc.
BF4's system is much better IMO, gives you a shot to get out of dodge and not end up sitting around like a lame duck while your health ticks away.