I have traded out for work before. I have been a cabinet maker/installer for over 20 years now. I did a light re model on a kitchen for all the machine work and rebuild on a 383 chev motor and 4sp trans. I had about 1300 in materials in the kitchen and zero out of pocket in the motor and trans. That one was a really good deal for both me and the machinist.
I also did a custom entertainment center in trade for a Dana 44 front and a 14 bolt rear, both with posi units and fully rebuilt.
All of this went in a 1965 GMC 4X4 I had when I lived in Oregon.
I built a custom fish tank stand for a fresh NP 205 transfer case for the same truck.
Side jobs used to get me anywhere from 8k to 20k a year in extra income back then. But now I can't do that. I've had one too many injuries and need to change careers at 38 years old. Not fun, but part of life. just have to roll with it.
If the only way to keep your project moving is to do it one part at a time or trade out labor for parts you need, then go for it. It was a good motivator for me to pick up those projects and extra hours to get my truck done just so I could take it out and abuse it.
As long as you and the other people involved in the deal are happy, that's all that matters.