You can do this on Firefox if (and only if I think) you have a multi-touch input device. So on my trackpad (a Wacom tablet) or my touchscreen laptop I can pinch to pan and zoom like this. But I don't think there is a way to trigger this with a keyboard and mouse.
I don't think I prefer it most of the time, as scrolling is annoying. But it is super useful for sites that break the browser-default scrolling.
In Firefox, you can configure the mouse to scale-zoom. In `about:config`, change `mousewheel.with_control.action` to 5 (default is 3 if you want it back). Holding Ctrl and scrolling will zoom in on the cursor location like a touchscreen pinch.
I don't think I prefer it most of the time, as scrolling is annoying. But it is super useful for sites that break the browser-default scrolling.