Having worked where a megacorp attempted to normalise points and incentivise velocity, there is a fatal flaw. The people doing the work estimate the size of the work! Increased “velocity” will happen automatically. Actual work throughput will remain the same. Prediction becomes impossible.
The most damning problem with “points” is that you can’t even do basic math with them. Does 4 points take twice as long as 2? No, no it doesn’t. The whole thing is just a giant waste of time.
My team needs to get 17 points done daily, but no-shows-no-calls keep kneecapping efforts. When they do show up, they complain incessantly about how management makes everything a 0.5 no matter the list of features in the story, and why can't they get more than 29 hours a week so they can have insurance. But it's attitudes like that which keep them from getting raises on their yearly performance reviews. It's a good thing scrum was invented so we could finally measure the consistent low performance of you computer science nerds.
The most damning problem with “points” is that you can’t even do basic math with them. Does 4 points take twice as long as 2? No, no it doesn’t. The whole thing is just a giant waste of time.