This is essentially how most games handles positional updates (advanced ones do a lot more: 2. Networked physics overview · jpetanjek/NextGenNetGames Wiki · GitHub)
Until recently, Roblox didn’t support UDP networking. All networking had to be ordered, and Roblox would resend dropped packets, which led to additional congestion and lag.
Unreliable events have resolved this issue to some extent. It’s not recommended to send large amounts of data on each heartbeat with it though. For smaller things like transmitting a single CFrame or a key input stream, it’s more than capable of handling it.
For example, here’s a project that sends updates almost every frame. It’s created by someone with lots more knowledge of Roblox replication: Chickynoid: Server Authoritative Character Replacement
A good read for people looking into the replication subject: Snapshot Compression | Gaffer On Games