I know some couples who have gone this route— both taking on a different name at marriage, either a combination of their names or a new one invented from whole cloth. It's definitely a workable option in terms of equalizing the "loss of identity" piece and ensuring that both parties are as all-in on the newly-created family unit.

That said, it does also feel a bit more chaotic and potentially subject to widespread adoption of surnames that are trendy in popular culture.