Earlier quoted context omitted.
I reckon results should be rewarded, not presenteeism. I might be more interested in results, who knows.
I'd be the first to agree with you. However, allowing a stellar performer to come and go as they please tends to have a bad effect on morale of the rest and impairs team cohesiveness.
One of the reasons I decided not to move to the US after I got my H-1B was because of the parsimonious approach to vacation days. Only 10 days of paid leave, for someone who's moving across the Atlantic. If I wanted to spend some time with my friends and family, it would need to be two weeks to make the flight time worthwhile, and that would take 100% of my vacation for a whole year.
And it was non-negotiable. Vacation increases beyond a one-off for the first year was a perk for tenure, not a negotiable form of compensation. And even if I didn't want to come back to Europe; why would I take a job that only gave me 10 days a year to do with what I want? Life is for living, not just working. It was a crunch point, a decisive factor in not moving to SV for me.