If I understand your point correct it could work as easily as communism: theoretically sound but undermined by human psychology. Natural evolution is slow and gives the species time to adapt to anything. Artificial evolution by comparison is very fast. But the real issue is that humans have intelligence, individuality, and egotism. We don’t see ourselves as just part of a collective.

Societies functioned in the past while taking away some rights from its citizens (like ownership) but nothing as fundamental as only a few able to reproduce.