Yes it will make more but smaller debris, right now they can make the debris small enough to not cause any damage to ships hulls/stations/satellites, the only thing that is really damaged is solar panels, which are made larger because they are expecting to lose some solar cells(the smaller parts to solar panels) to debris. Right now they are just clicking a button with no cost, I'm just asking that there should be some cost for it. And no, missiles are used right now to take down old large debris that are not designed to break apart.