As someone who leads an engineering organization, I object to this. Sometimes ideas sound great on paper and people do their best to implement it, and it turns out to not go as planned. I don't think people's jobs should be on the line, or heads should roll - as long as people acknowledge that it was a disaster and they can learn from this.
I personally have a "no blame" policy when things go wrong (unless something was done that was dishonest or illegal). When a product launch doesn't go as expected, or there's a bug in production that causes an issue - the goal is to have a retrospective, course correct, and learn so that mistakes like this aren't made in the future. We're all human after all.
Heads shouldn't roll - but lessons should be learned and a course correction should be implemented as soon as possible.