Imagine you are on the fantastic team. What impact would it have on you to know that, no matter how amazingly well your whole team did – only 1 of you would get a performance review that reflects that? Unless you are a very unusual person, it would be deeply demotivating, and it would almost certainly force your attention toward how to show that you’re better than your colleagues, and away from how you can support your colleagues and the team to succeed.
Human beings, like most everything other living thing on the planet, thrive in response to consistent support and the removal of obstacles. Forcing them into artificial and arbitrary constraints is generally doomed to fail.