I thought of that, and it's a seductive answer, but I'm not sure anyone wants it to be done mechanically that way. (If you're just eyeballing things and then having multiple people have input to keep the primary manager honest, then yes, I think that the team's performance should be kept in mind).

Like, say your team didn't hit its OKRs. Should that mean that your manager has to make the average of your team's ratings be below 3? Certainly, one reason why your team failed to hit its numbers might be because most or all members of the team are poor performers. But it might also be that your manager didn't organize your work well, or it might have been that your numbers were unrealistic.