This is a neat idea. Have you done this in practice, and how does it work over a long time frame?
One of the big advantages of separate packages is purely for references: The model package has no reference to service or database code, so it's not possible to include SQL or other hidden service calls in it -- at least not without adding a new dependency which makes it blatantly obvious you're doing something wrong.
On the other hand, if your features are self-contained, and you have good unit test coverage of all the logic, then I guess it doesn't really matter as much what the structure is. The fact it's unit tested forces it to be loosely coupled, and testability is one of the main reasons to organize code into layers in the first place.