This only makes sense if the engineering teams own the process from end to end, at which point they stop being engineering teams.
It's entirely possible to measure teams on business outcomes without having them own things end-to-end, but to be really effective in this they'll need to collaborate with the other teams across the company - which is generally a desirable outcome.
In my experience, this exists in a few, rare (investment bank) trading floor technology teams. From a distance, it looks like traders who are programmers.