Quad-/Multi-rotors use tilting [1] for steering - including speeding up and slowing, and maintaining / recovering stability. Increased moment of inertia surely increases energy budget necessary for stability and maneuvers, which means lowered energy for flight.

Of course if the weight saving is good enough to offset that, it may still be better off with structural batteries. And the energy budget increase can be calculated pretty well.

[1] achieved by differential thrust, achieved by speeding up / slowing down opposing engines