We've been doing it here for a couple of years (we were treated badly by the NaNo organisation and so just disassociated from them) and, while it is a trust system (isn't it all, though?), we still managed to get 24 of 55 people with 50k words last November in our little Australian region.

And as a pantser thank you. I am sick of being told I write wrong because I don't plot, despite being very moderately successful in book sales.