In theory it could work if everyone living under it are selfless and 100% in on it, but that's simply against human nature. Also, a resource distribution system based on "trust me, bro" will at best be inefficient or corrupt, in most cases both.

We're currently living through an era where liberalism+capitalism is really showing its asscracks, but I'd take that over communism. But I can understand why communism may appeal to some who have never managed to get ahead in our current system.