If a single engineer can sabotage a project, then the company has bigger things to worry about. There should be backups, or you know, GitHub with branch protection.

Aside from that, perverse incentives are a real problem with these systems, but not an insurmountable one. Everyone on the project should be long on the project, if they don't think it will work, why are they working on it? At the very least, people working on the project should have to disclose their position on the project, and the project lead can decide whether they are invested enough to work on it. Part of the compensation for working on the project could be long bets paid for by the company, you know like how equity options work, except these are way more likely to pay out.

If no one wants to work on a project, the company can adjust the price of the market by betting themselves. Eventually it will be a deal that someone wants to take. And if it's not, then why is the project happening? clearly everyone is willing to stake money that it will fail.

<insert dilbert comic about wally coding himself a yacht>