It's been a few years. I remember discussions about whether holocratic forms of organization are the means of choice when it comes to new structures in which hierarchies are dismantled. Some colleagues smirked and said that they are not practical. Even ideas from well-known examples, such as Buurtzorg, a large care service from Holland, did not seem to transfer well to large industrial companies.
As far as I know, the pure holocratic forms are still a marginal phenomenon in organizations. The hierarchy model still dominates. There are many reasons for this, be it that the employees are used to it. With all the advantages and disadvantages.
Nevertheless, there are some positive outliers that have managed to engage employees more and brought about innovation with new management approaches in the way they lead. In addition to the Chinese manufacturer Haier, the American retailer Bestbuy, the French tire manufacturer Michelin is worth mentioning. All of the companies have several 10,000 employees. All have existed for a long time. All have managed to renew themselves from within.
Sure, they have also reduced some hierarchy, but the core of the transformation has been to get employees more involved and at the center. In all three cases, the journey has taken a few years. In terms of future viability, the companies are well positioned.