That works once you are profitable enough that the salaries are enough to cover sufficiency. however, if I am taking on the risk of no salary, I not only need substantial equity, I also need control. It's going to be my company.
Now, if what you're trying to describe is a co-op, that's interesting and you should look into that literature, but it is no longer "your" company alone.
I'm looking into co-op/b-corp. My core model is that I want to create a system where people can contribute at a task level and get equity. An "upwork" for people that want income streams rather than payouts.
Now, if what you're trying to describe is a co-op, that's interesting and you should look into that literature, but it is no longer "your" company alone.