This may mean something to the people who study management, but since most organizations use managers, and different managers have different styles then this already exists.
I had a manager like that, set you a task, and how you did it was up to you. As long as it was progressing, he didn't care if I never came in except for the meetings.
You can read the details of holacracy here: http://holacracy.org/constitution
There are signifigant differences between what a lead link does and a traditional manager. They act more as a spokesperson for the accountabilities and priorities delegated to them by a larger democratic process.
This is yet another example of a flippant and largely content free criticism on hackernews made from a position of ignorance on the topic. I'm ambivalent on whether holacracy is a good system as I have no personal experience with it, but lets at least talk about what the article is actually about rather than just pattern matching whatever random crap is in people's heads.