I don't know. You see in history many lesser children of great parents. The Bach family, for instance. Or some pretty stupid heirs of very smart kings. One could find genuises born in the dumbest of families.
The answer doesn't need to be yes or no. Racking my brain a bit here... In population genetics -- the science behind artificial selection, largely concerned with how fast and effectively certain desirable characters like milk production are selectable in domestic animals -- there is a factor of inheritability or something... A factor that limits inheritance, from 0% inheritable to 100% inheritable.
Very few physical characters are 100% inheritable. It is around 40% for milk production in cows if memory serves. Meaning a heifer from a productive cow may very easily be notably less productive than her mom. So even a simple metabolic character like milk prod. potential is not easy to inherit; it is not certain at all that daughters cows will inherit the production potential from their mothers (x father = bull).
Likewise, sons and daughters of geniuses are not always genuises themselves.
Is it possible that some basic aspects of intelligence, i.e. a mathematical & logical mind, a capacity for predicting / planning, a particular mental inclination (such as anxious vs. indolent), certain traits of character like that could be (wild guess) at ~ 5 or 10% inheritable?
Meaning that the chances bright parents will breed bright kids exist, but they are low.
Hope that makes sense.