Indeed. Compare internal construction and instruction sets from x86 to
8080 to 8008 to 4040 to 4004. They show strong resemblance.While Intel claimed some kin of compatibility between various generations, but e.g. 8080 to 8086 "compatibility" was only on assembler mnemonic level, but not binary compatible.
The proper way to handle compatibility issues (keeping old customers) would have to support both the old and new instruction set. This will require a mode bit to select which instruction set to execute at a given time, thus in the new instruction set opcode bit patterns could be freely allocated.
This was done e.g. with the VAX-11 series computers with native VAX instructions (32 bit) and compatibility (16 it PDP.11) mode. Of course this required separate instruction decoders for each instruction set, but the rest of the hardware was largely common.