Would you choose to work on a project with compensation based on results, where there is an extra bonus for achievements but a reduced base pay for failed projects? Keep in mind that individual commitment and results will be measured.

In my experience, projects fail because of management and clients. Not because of devs. So, I would never want to work in a company or project where you get the blame for a failed project. That’s not professional.
It’s similar with "results". Most of the time, results cannot be made because something is blocked and the devs can’t do anything about it.

@Lensflare but suppose the unlikely situation that the arbiter of what is or is not a "successful" or "failed" project contribution is an objectively objective software engineer.

That's it.
Not realistic.

Sounds like breeding ground for rockstar Devs (a.k.a. non team players who end up killing a project with poor quality code but deliver what appears like business value fast)