It's not going to ruin the edge. Anything but, really... but you will never get, say, a 20° angle across the entire edge. It may be 23° right in front of the clamp and 18° out towards the tip. If you are seeking that level of perfection, it won't come from a kit and it won't come without a lifetime of mastery.
Here, take a look at this quick graph I worked up...
Assuming you have centered the clamp on the knife, you will find that the edge just in front of it will be ever such the slightest bit more "blunt" than it will be the further down the blade you get. This is because the further away you get from the axis point, the more shallow the angle will be.
Think of it more like this...
The further away you get, the shallower the angle becomes. Knifenut mentioned that the effects would be less noticeable on smaller blades... this is true because you are making it less likely that you will have to move the stone further away from it's pivot.
I have a Lansky. I use it on some knives. I will continue to use it on some knives. It's foolproof sharpening, quick and easy...
Heck, you can use this knowledge to
empower you! Know that if you ever need a sharper edge for what you are working on, work nearer to the handle. If you ever need a more durable edge for hard jobs, use the part of the edge directly in front of where you clamp down at.