I work at a company that has a "flat" management structure. You probably use a product that has one of our products several times a day and not even know it. While we are not a hardware design company, we do design and manufacture plenty of products you make use of every day. Mostly known for GORE-TEX.

I don't believe the management structure would cause any major issues. Generally a team is created to handle a project, and people not in that team really have no major say in what is going on.