[zdragnar]

It really depends on the nature of your work. Creative work that goes in stages would be frustrating, since your day to day is never the same.

On the other hand, if your work is a bit more repetitive, it can be a nice way to actually see your contribution change.

On the other other hand, there's the obvious drawback of competition undermining coordination and cooperation among team members, making the experience more toxic, or sacrificing quality for quantity.

Short feedback cycles are good. An employee shouldn't wait 3 or 12 months to find out that they aren't doing something right- it's bad for them and for the company. It isn't a silver bullet, though, and there are better ways to get there.