I've always found these attempts for "holacracy" as efforts to square the circle. There is actually a solution to this problem - it's called democracy. Every person gets the same amount of power - one vote, and they can decide things (or decide they don't care). This is compatible with hierarchies, both formal and informal, but the authority is challenged all the time (which is a good thing). Some companies work like that, they are called worker cooperatives, but they are rare. Any eventual power cliques have hard time to be stable in such environment, because the power is equally distributed by default and according to a fixed, well-known rule. This actually allows participants to focus on production rather than politics.
But this is seldom what the owners of the company (who invested capital) want. They don't want people to run things, they want people to run things on their behalf (and get rich from the process). And even if they were sympathetic to this idea, it's very hard to grow such a company at all stages (in small group it's very prone to hostile takeovers and later there is no incentive to grow, since the power of individuals is always the same compared to number of people).
I don't see transition to democratic workplace happening unless lots of people give up any hope to have more power than other people. Interestingly, in political system, this largely happened, although it's still not enough and there is resentment from some.