In common: no
Is this a good way to do it?
The reason is, that the hardware only support certain max texture resolutions, older hardware only 8192x8192 or even 4096x4096 and this is not much if you unwrap your whole level automatically.
The other issue is, that environment art often reuse texture extensively to keep a good level of texel density.
But there are always exceptions,i.e IdTech5 has mega textures support, which could be used to do it this way. But this is the only game engine which comes to mind using this technique in games and the engine is not available (only to bethesda).