There were teeth, in that your own performance review (as a leader) would be affected by it. Depending on your level, your own promotion would require certain stats for your teams for it to be approved. So people made all sorts of decisions - including hiring people they shouldn’t have hired - in order to push those numbers to where they were forced to. The same happened behind closed doors on promotions.
That was not the case in my experience. I am learning that we all have vastly different experiences on what the implementation was, making the discussion rather difficult because we are all talking from very different vantage points.