I think narrative CVs are good for personal awards, it is another way of describing your research experience and impact. For team projects, it becomes more complicated. for example how would you navigate completed a collective narrative CV? From recent experience, I had to submit a narrative CVs for each co-applicant in the team. This was a lot of additional effort in chasing co-apps to complete the CV, ensuring they understood the format and making sure they followed the guidance for the CV (word count, size font etc). I also wondered about how as a reviewer you would practically review all the CVs and applications, it would mean additional time needed to go through each team members CV.