Inheritance is a good thing.  It offers a great way to simplify coding through rollup of repetitive tasks and common attributes.  It is one reason why OOP is superior to most other programming methods.  It's a beautiful thing.

It also offers great job security.  Nothing endears your successor more than trying to figure out properties that are inherited 5 levels up in the abstraction with NO commenting or clue where to look.  And don't even get me started on N-Tier programming when N > 5!  Solutions get a bit unwieldy with 8+ projects attached.