I've visited Netflix a number of times, and this is a very interesting perspective that I haven't gotten before. Something just feels wrong about this way of doing things.
Not that a company should keep people that don't contribute, but they seem so tightly tied to roles, and if we don't need your role anymore or you aren't doing it as well as we think you should, out you go. Any accumulated wisdom you have about the company goes too. The fact that you know how the company works, well, we can just train someone else up. We will ignore all those costs and losses.
Both Holacracy and Teal organizations de-emphasize specific roles, and emphasize each person having multiple roles. If you have zero roles then your value to the company comes into question, because either no one wants you on their teams or you aren't trying to be on teams, either way you've moved into a no-person's zone (at Zappo's they call it "the beach" and if you're on the beach for two weeks, you're out).
I wonder if the problem is in the granularity: Netflix defines a single role and pays a salary for that role, so if you fall below the role-salary equation you are out. There is no room for people who might contribute value in a partial way but not the full-bore way, which in my mind means that they are losing out on a lot of possibility.
The more I think about salaries, the less I like them. They are usually pitched like "as long as you get your tasks done, it doesn't matter how much you work," but for some reason it seems like most salaried people end up working more hours and not less. It has the same smell as companies adopting unlimited vacation because they've discovered that people take less vacation.
I actually like getting paid for my time. I think the deal has always been that I'm selling some of my life to you. A salary feels like a way for you to cheat and get more of my life. And the expectations are big, so (just like unlimited vacation) if I start actually using the flexibility, I'm "not a team player." It seems to me that paying for time is both more honest and more freeing. If I'm no longer productive today, I should go do something else and not worry about it -- I don't do the hours and I don't get the pay, but I feel OK about that, not like I'm somehow cheating the company as is the case with a salary or unlimited vacation (yes, it requires that everyone live within their means so they have the choice of stopping work when it makes sense, but I personally consider living within your means a very good thing).