Traditional management structures are shit, but at least you know how they work, and there are lots of well-worn coping methods for dealing with them. The problem with crazy new management styles is that they often hide their true nature underneath a veneer of newness (for example, "flat"), and that true nature can sometimes be completely different from the ostensible version.
True. In practice, power in Zappos and holacracy is probably much more centralized, more arbitrary and less transparent than that of a hierarchical organization because there is no explicit structure. There is nothing protecting the lower rung people from the whims of those in the top.