A look at the PowerVR graphics architecture: Deferred rendering
blog.imgtec.com
blog.imgtec.com
Graphics developers need to know this stuff because certain operations can be very, very expensive on tile-based deferred renderers. Things like reading from the framebuffer, for example. On an immediate mode renderer, the GPU just has to queue up a DMA. On a tile-based deferred renderer, the previous commands have to be flushed first. And these differences are part of the motivation for new APIs like Metal and Vulkan.
The only downside was transparency (and I guess still is), so people used to do checkerboard-transparency (e.g. imagine a chess/checkerboard - the white pixels stay, black are out) - then it was fun to combine this other transparency out there. Not sure how well it worked, but people tried it out.
It does means however that REYES can suffer from huge overdrawing issues when objects are small on screen however (unless shading rate is set appropriately).
You can still cull objects that aren't on screen ahead of time though, so you make a saving here.
Pretty much all rasterisers can suffer from this issue to some degree, which is why using raytracing for initial visibility testing scales far better (assuming acceleration structures are used) with bigger scenes (hundreds of millions of triangles). And it's one of the reasons why almost all offline renders used for VFX have moved to raytracing.