From the recent Bad Faith podcast. Gonna read up on them. Seems like a decent first step towards full communism, with the added benefit of I don't think people have an immune response to the term.
"Democratize the workforce" is pretty close to "seize the means of production". I'll take it, for now.
In a vacuum, sure, but you're skipping to the end-game of a capital market. Unless a co-op has a monopoly, the nature of the capitalist system they're in will still end up influencing their decisions, sometimes in downright anti-social ways.
If there are two competing co-ops, one whose workers are willing to vote themselves a paycut in order to out-price the competition will win. Faced with a recession, the one that decides to democratically slow production and/or fire their comrades will win(maybe they'll draw straws?). Co-ops still must respond to market forces or die. Faced with a lawsuit, or environmental regulation, or whatever really, the logic of co-ops is scarcely different from capitalist firms.