I've never been totally sure... What defines 'lag phase' specifically? Is it no visible activity at all or does it include visible build up of yeast? I'm not talking full-on krausen, just visible cell growth on the surface... The yeast version of a teenage mustache, if you will.
The lag phase of yeast is kind of a misnomer. Basically when you pitch stored and dormant yeast into new wort, they immediately start the uptake of oxygen and nutrients before beginning division. Then they explode into a massive fury of cell division and byproducts. Generally, people refer to the lag phase as the time before they see signs of active fermentation (bubbling, cloudiness, etc) in their primary.
I'm actually kind of suspicious that overly short lag time itself is a bad thing. Overpitching may or may not be a bad thing because of the suppression of esters due to not reproducing as much, but the yeast start doing things as soon as they hit wort.
When you pitch rehydrated dry yeast, you're not even going through the uptake phase. Those suckers are packaged with lipids and nutrients and ready to go to town. Some (pro)brewers scrape krausening yeast directly into a new batch of wort. Those cells surely aren't in need of any intermediary steps before they start dividing.
Anyway, without getting into that discussion any further I'd say use your tastebuds as the final verdict and not the "lag" time. If you massively overpitching and that's what causing the bubbles so soon, yeah, your beer might suffer depending on what ester profile your looking for. Also, the long term health of your yeast will suffer by continual overpitching. If you're fermenting too warm for your strain, you might also get some bubbles really fast.
But bubbles by themselves, I'm not so sure that is bad, in and of itself.