I've only ever seen this work with "application managed databases" i.e. where the app truly owns and controls everything related to the database and can freely

I've only ever seen this work with "application managed databases" i.e. where the app truly owns and controls everything related to the database and can freely run ddl. The db code is then just part of the app and can be spun up against a completely empty db. The death for this kind of thing is dbas administering the database separately because the coupling will kill you.