I simplify it as "Kanban, but for problems". Instead of a person creating a list of tasks for a team to do, they identify and define problems important to the organization. Teams then self-create around those problems to solve them.
Before, one person would receive and coordinate work among the team - the tech lead. After, we had a rotating roster of people who were interested in solving problems that would act as a tech lead. This was in coordination with our Product org.
My instinct is that wouldn't scale. Self-organizing gets more complicated, and usually more political, inefficient, and disorganized, the greater the distance self-organization spans.
But I don't know any organizations that actually work that way, so have no data.
Individual initiatives and projects still have leaders. However, that's leader isn't necessarily a pre-defined role.