Generally speaking, in anthropology we recognize that there have been and are in all societies what we call "the five basic institutions", and they are family, economic, political, educational, and religious. Some may not like the latter, but the fact of the matter is that religion is intrinsic today and in every society that we have ever studied.
As parents, we will have an influence on our children in all five of these areas, even if that influence were to be one of neglect. This is the way it is. To pull one of these five out and say this is a no-no really doesn't make much sense, as to not have an influence is to have an influence-- there's no way of getting around it. Even if one tries to avoid the subject, the child will still be influenced by others that may indeed have an impact that the parents have tried to avoid.
So, to me, bringing up a child within a religion is not intrinsically wrong, but how they're brought up in such could indeed be a problem. With my kids, we exposed them to various religious approaches, and one of our "kids" and their families are in Judaism, another in Christianity, and another is secular. However, we attend each others functions and never argue over religion. Our six grandchildren, now 8-17 years of age, also attend each other's functions, and they don't argue religion.
If we had to do it all over again, we wouldn't change a thing because they are all open-minded and considerate. As our grandchildren get older, they will eventually decide for themselves in which direction they prefer to go. As of now, they do have the framework based on education and their experiences to make that choice.