You can do what the OP suggested and be fine, but if you don't want to install Imagemagick or aren't comfortable with command line utilities, you could also use
Kindle Comic Converter instead. Select your device and it'll automatically choose the resolution of your device and scale the image down if it's larger, or upscale the image if it's smaller if you choose. You can also do multiple items in a batch, convert between cbz, cbr and image pdfs, and there are options to convert all color images to grayscale to save space, and to automatically trim margins to maximize the amount of image displayed on the screen (although test the option first; if there's a small image in the corner used as a chapter or issue divider surrounded by nothing but whitespace, it'll crop all of the whitespace out leaving you with a giant version of that image which may not be what you want).
My favorite part of it though is that it saves you from having to manually unzip/rezip files. That right there is a time saver!
And if those image files are DRM free, you could also try installing
koreader onto the device and using that to view them. It uses MuPDF as its image renderer for comic files, and while it can't handle cbr (since the rar format isn't technically open source), it is faster than the Adobe renderer used by Kobo, and it might be able to handle those large files with no modification. The latest versions now support the Libra too.