Sounds great, if the boss is not somehow magically delivered from being a responsible party, and as long as the boss's reasons for not meeting commitments are not considered somehow different and therefore "not excuses", i.e., acceptable.
Yeah, that's a great way to destroy moral, ie, have your underlings hate your guts. Parents do this kind of crap to their kids all the time, too, then wonder why them don't get respected.
