This is fine if the expected range of frequencies is pretty narrow, as it is with microprocessors. It is a whole lot harder to do reliably when the crystal frequency can range over 2 orders of magnitude or more, and using any of a variety of different crystals. At best it is a hack, and can be off the stated crystal frequency by a fair amount. Sure, you can tune it with some variable caps, but as soon as you add tweaks like that your alignment costs will quickly swamp any parts cost savings. If you want reliable on-frequency clock, then use a purpose designed oscillator and be done with it.