For starters, the poster described what his company uses as "something else", making it difficult to conclude its suitability for large organizations.
There are many CMS (content management system) type solutions for dealing with version control, scheduling, tracking, etc. I can't speak for the art/graphics world, but as a software developer who has worked for and with a variety of both very large and very small companies, you would be laughed out of the building if you suggested using Finder Labels for software project management. I'm sure it can work, but there are much better solutions. I could see a labelling like system being used maybe 20 years ago at a smaller company.
Sorry for the detour... The nMP is pretty nice.