@wizard:
From a biologist's standpoint, yes it is a variation of line-breeding. However, there are enough other dog lines interjected along the way that it should not be a problem. The other bloodlines will swamp the Mischief Maker's contribution.
From a dog breeding point of view, there is nothing unhealthy about line breeding IF there are no hidden (or not hidden) problems in the dog being line bred upon. Line breeding is not the same as inbreeding..which is done with much closer relatives…inbreeding more risky as you up the likelyhood of doubling up on recessive/unexpressed genes.
Line and in breeding can be damaging to a breed if unwanted genes are dispersend thru a population...but it also sets type, and desired characteristics. That is how the hundreds of dog breeds have been made and/or evolved...breeding like to like. Breeding back to dogs with the same type, to set the genes solidly in the line.
It is impossible to say whether Lazar's genes have been washed out...because the breeders may have been selecting for something that he possesed...good shoulders, nice temperament...whatever. Selective breeding isn't quite the same as natural selection (obviously) so some characteristics that are bred for may not 'wash out' with the addition of new blood.
Either way....I certainly wouldn't worry about inbreeding in the pedigree linked by the original poster.