It does happen that a name is chiseled out and then reinserted later under a new dynasty, but this is quite uncommon.
In most cases, the name of the new emperor cannot be substituted for the chiseled out name because the honours at the head of the stone are obviously for the previous ruler. Usually, they leave the chiseled out section blank, or else they try to fit some text that makes sense in the context.
For example, when Caracalla got his brother murdered and probably decreed that his name should be erased from History, in some cities and towns they tried to fill Caracalla's extra titles in the blank, because, being the elder of the two, his name was always first. Of course, the alterations are very obvious to us. We see very well the stone was chiseled out and then filled in with new text.
And I guess that stone masons thought to themselves ─ “Hey, whoever sits on the throne, as long as they give me work, I'm OK with it!”
Oh, and coins with Geta were also hammered to remove his bust and name.
See also this Forum Ancient Coins page.
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