Your evidence doesn't quite say what you think it does; you are talking about day-to-day management, I'm talking about ownership structure and how day-to-day management gets appointed/fired.
But no specific evidence, just first principles reasoning. It is hard to see why it would do badly.
[0] https://www.businessinsider.com.au/steve-jobs-original-apple...
There are concrete examples of worker-dominated organizations: schools, public transit entities, etc., where powerful worker unions dominate policy. They are almost universally unsuccessful, as worker interests take precedence over delivering a product to the consumer.
I suppose we have trailed things like worker ownership in early stage startups with high equity compensation. That might be evidence that it works well. Letting workers capture most of the value they create would be at least as interesting experiment for me than Universal Basic Income; but I think UBI has much more coverage as a political idea.