I don’t think an iris like that would last very long with the immense pressures in the cylinders. It makes way more sense to electronically control the valves themselves, like Koenigsegg is doing with their Freevalve tech, so you get the mechanical seal of the valve with the control of electronics.
Swedish hypercar builder Koenigsegg has made a system like this, they call it FreeValve.
Their upcoming car called the Gemera will feature FreeValve, its 2.0L 4-cylinder is said to generate over 600HP. Though it must be said that this is a 1.5 million dollar car, so don't expect this kind of performance per displacement from other brands.
No more complicated variable valve stuff. Just hold the iris open longer. Also no more interference engines and timing chain/belt changes.
Iris: https://commons.m.wikimedia.org/wiki/File:Iris_Diaphragm.gif
Edit: fixed typo, added link to iris gif