This has been a fallback method for Google Breakpad's stackwalker for more than a decade. It generates basically useless stack traces, at least for stacks captured from Android where you're trying to trace through NDK code invoked from the ART. Compounding the problem is a complete lack of available symbols for Android.
I dug around in that code a little, and although it contains a disassembler, it's not being used for inspecting the call chain. All it does is check that the address appears to be inside a code section.
https://github.com/google/breakpad/blob/main/docs/stack_walk...
Also see recent discussion here:
https://news.ycombinator.com/item?id=35438171