I do think it's an experiment worth trying. My hypothesis would be that it wouldn't work, but it would be indeed interesting to see what happens. I think that we'd learn a lot even from failure.

I suspect it would have a greater chance of being successful on a small scale and then break down on a large scale. Like corruption, I think it's somewhat dependent on the culture shared by the people who are involved, much like with successful companies vs disfunctional companies.