However, at the later stages of a company when you want 100+ engineers or more, it can be a major damper to organizational growth. Front line management becomes a necessity to keep teams healthy and get a consistent culture across the company. Career paths also require curation that is hard to do with people spread across offices and timezones.
So essentially what we end up with is remote work being optimized for small startups and slow growth companies. Large companies that will always waver back and forth on it, without actually figuring out how to make it work at scale. From a career stability standpoint, it's kind of a beating. Every job will seem awesome for a short period and then devolve into a shit show.
Those of you who are betting the farm on remote work should keep all this in mind. The smartest remote folks I know have realized this and just do consulting/contracting and making lifestyle choices to support this way of life.
I say this as someone who worked remote for 3 years from Texas and moved out to SF to work in a big office for a major tech company. There's huge benefits to remote work, but it's not a panacea.