With the exception of Switzerland, this didn't tend to go too well in the middle ages - the early modern age was the first time this became viable "at scale", hence the French Revolution.
There were plenty of earlier cases of one family of minor nobility killing another family of minor nobility and taking over their farmland and serfs, but successful peasant revolts that led to a change in the hierarchy were really rare (outside of Switzerland). Even the 1381 "Great Revolt" in England, which called for the abolition of serfdom among other things, is evaluated by the World History Encyclopaedia [1] as "largely unsuccessful" despite having many factors in its favour: a rise in the bargaining power of surviving peasants after the Black Death, and peasants armed and trained with knight-killing longbows. And yet Wat Tyler's head ended up on a pike, and despite the poll tax being rolled back, serfdom as an institution remained.