First of all, it is often mistakenly believed that RC servos use PWM, when in fact they don't. They only care about the on time, not the off time. In fact modern "digital" servos, only have to be pulsed once and then remember it and hold the position.
One problem is that each Timer/PWM module can only generate a square wave at one frequency at a time. That is, each channel will have the same period, so if you need many channels, that may not work.