If you free up the peer/employee/worker from thinking about the constraints of scarcity of money, doesn't the next resource of scarcity become time (or perhaps, intellectual property)? Which can still lead to a straying from the candor and other ideals this compensation system hopes to promote. The corporation still owns all your time, and all your production during that time.

I just can't help but think this scarcity of resources still causes poor incentives that lead to not as good human/team outcomes. Maybe better than in a "normal" compensation structure though?