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> Who’s going to pay in if the fund expects a guaranteed commitment but refuses to give such in return?

Literally defined contribution [1].

[1] https://en.wikipedia.org/wiki/Defined_contribution_plan

401ks don’t guarantee results for a given amount of input, and people still stuff away lots into them?

The tax code is also really powerful in sending money to certain products

It’s called a defined contribution pension as opposed to a defined benefit pension. They exist.

not only do they exist, they are by far the more common variant. Whenever you hear about a massive unfunded pension liability it's a defined benefit plan.