Explanation
The side effect of this approach is that sales reps on the same team will have read access to the accounts for opportunities owned by their team members. This is because owner-based sharing rules grant access to both the parent and child records of the same object. For example, if a sharing rule grants access to opportunities owned by a certain role, it also grants access to the accounts associated with those opportunities. All sales reps will not have read access to accounts for all opportunities, as the sharing rules are based on ownership. Sales reps on the same team will not have edit access to the accounts for opportunities owned by their team members, as owner-based sharing rules only grant read or read/write access to child records, not parent records. All sales reps will not have read access to all accounts, as the account organization-wide default is private.