Having something like “Survivor” might work better than this, really. :’) Termination based on who doesn’t fit probably isn’t viable, but reassignment of all the ejectees to a new team made up entirely of ejectees might have some merit.
I've seen that in action - except that they then "team" up a misfit with someone that presumably has a clue in an effort to cover for the misfit's poor performance. The result - the productive team member (and I use the word "team" loosely) more often than not is pulled down to the misfit's level when they find out that their performance rating (and raise) is gauged on the performance of the team rather than the individual. It falls generally under the heading of "why should I bust my butt to do right when this idiot next to me gets the same thing I get for doing nothing (or worse than nothing)".