There's a reason the absolutely majority of businesses isn't run like that, and it's not because all people suck.
Two reasons, actually.
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These people (who do not suck) often don't really have what it takes to run a successful business. It's a hard endeavor, especially in the beginning, and often if you don't do the bare minimum, you die.
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As you grow, having 10 clashing opinions is a paralyzing disaster for a company. Solution is to have a CEO/owner whatever, one voice to rule, but at that point, is it really that co-op you dream about?