UK resident here, only seen a truck doing this once so far - I was walking along a small lane hearing it thinking somebody was using a power washer until I turned around and saw the vehicle reversing my way, at least I realised eventually but I really think this isn't so good. I'd much prefer to live next to a construction site with this sound because I can't hear it, but if I'm walking around I appreciate the harsh alerting beep sound that  universally says "Look around, you might get squished"