This is essentially the hippy commune / kibbutz concept, with the wrinkle of generating most of its "foreign exchange" through tech work rather than pure agricultural produce. With a bit of careful tax planning you could offset all the fun unproductive stuff against tax and claim both R&D and small farmer allowances.
Division of tasks is where this kind of thing tends to fall down.
It's been tried over-and-over-and-over for centuries and there's a ton of research. If it's not based on a religion, it fails, is the long and short of it. Only works with religious people.
It is interesting to speculate why is it that religious groups fare better in this kind of arrangements.
I think it has to do with 2 things: The ability to shame individuals into compliance without resorting to violence, and the ability to shut off free-loaders.
That's the problem with intentional communities. Everybody (claim to) have the best intentions, until push comes to shove and you have to actually put your self interest on hold for the greater good of the community.
I beg to differ on the monopoly of religion over the power of hierarchies.
Take the military by example. They have a remarkably good track record of literally sending men to die, in full knowledge that their chances or survival are negligible.
There are many other less dramatic cases: at work in both the private and public sector, at the school's social dynamic, at charitable organizations, and yes in the church.
And hippies don't go to war either. But how is that relevant to the point of religion being the only way to make people work against their own interest.
They do a good job avoiding freeloaders in the first place with rules like, for examples, You have to be circumcised and we meet daily for prayers. Gaming the welfare system is one thing, but surgery and dozens of hours a week of time would be a bit much for a mooch.
Division of tasks is where this kind of thing tends to fall down.