I suspect all of the big players in the space do what you've just described.
There are dragons here. The problem is frightfully complex at scale and deployed worldwide. Managing the dependency chain is key, as the number of failure modes is very high, and the method of failure is (seemingly) different every time.
Make sure you've got folks who are distributed systems experts in place. Dealing with unexpected latency issues, network partitions, cascading failures, and accidental call rate amplification attacks should all be front of mind.
With that said, it obviously works. It just takes engineering effort, and operational excellence.
Cheers,
Chris