If we think of Residuals as a form of profit-sharing, then I think basically a similar system would work in a system where media production was worker-owned. But they do kind of demonstrate the unfairness of market based rewards, as it can be sort of a lottery for the workers (with some people getting rich as hell for little work, while many others just have to continue drudging along creating content).

Residuals are definitely an incoherent concept in a fully communist system, especially where all created media is free culture.

In the context of the system we actually live in, I think residuals are good actually; they're one of the few examples of workers clawing back a proportion of the profits.