Can't wait till this happens in North America. I hope we realize shorter work days and basic income in the next couple of decades. Then we will truly have a golden age.
Ultimately, this serves the employer's purposes more than the employees', but it's better than the bad old days of clock-in, clock-out. Imho, most managers [at least in tech companies, but not just the big name tech companies] operate this "just get your job done" way.
This is especially common in the Bay Area where a fair number of folks have 1.5-2hr each way commutes.