This is just communism. If everyone did this, you would have a community-based economy and society. Communism.
The sheer idea of competition is antithetical to this world view. Because you would never compete against yourself - but you MUST compete against your neighbors. You would never advocate against yourself, either.
Look, it's a nice idea, everyone hold hands and sing Kumbaya. But it's not a Christian thing, Marx figured this out much more concretely. Like, he thought about the actual economic and political consequences of it.
And, I don't know, maybe it could work. But I think it's important we're all on the same page about what we're asking for.