The challenge with this is when you have a team with members that, by and large, wants to be led for various reasons (lacking motivation, does not want to lead, distracted with other priorities, etc.). In a team like this, there needs to be someone that “calls the shots,” as it were, while giving every team member enough of a voice to feel like they are heard and enough autonomy to do the right thing (provided they have the skills).
Speaking of skills, this leadership approach fails hard when you are handed a team of people that are low-skilled, for whatever reason. Some of these folks can’t be let go (too expensive to do so, usually). Micromanagement usually works in this instance, especially if you can’t train