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I guess it depends right? If a show or movie or other piece of art continues to bring income in, where does that money go? Particularly when the team that created it have effected disbanded and therefore aren't technically on the same payroll that income is arriving on. I would argue it should not solely go to the owners of that production house.
Residuals makes sense in a way that doesn't really apply to engineering because typically engineers will remain at a company and their continued employment is how they continue to gain income from their work.
You could maybe say an actual equivalent would be engineers getting shares in their company, which would function the same as residuals. I think that is a more apt comparison.
I think the shares in a company thing is a good comparison, because I went to university at a place that churns out a lot of grads who found or work for startups. It's a minefield because often the reason early employees get paid in partly in shares is because they couldn't afford to pay them the "true amount" upfront.