Shopify's solution seems a little radical to me. Having multiple 1x1s for a team seems wasteful and inefficient. A project team is called a team because they all need to work together, rely on one another, must coordinate / cooperate to achieve the mission.
Should a football coach have eleven 1x1s to coach the offense instead of working with them as a unit? They do break down by positions at times, but still come together as a unit.
Actions like this create rules which rob people of initiative and pro-activity. Guidance and accountability are more powerful leadership tools to get things accomplished.