Encouraging to know this model scales to 100 employees at least. Purely out of intellectual interest, I wonder if a company the size of Google or Facebook could also ship in this way, or if the whole release manager/team is essential.
Amazon generally doesn't have release teams (except for the retail website). I can't find it right now, but I know someone gave a talk on Apollo, which is how Amazon does deployments.
I did find 'flippers' from Flickr[1] which sounds like a very similar "keep it all in master and turn stuff on and off" methodology.