The whole idea of remote working to arbitrage cost of living falls apart if you are in any way social.
I think that a lot of people banging on about remote work just haven't tried it for an extended period. It works for some, and for those - great.
To me, it's just another step down the 'technification' of everything in which people don't speak to the people around them (because they've been 'removed' from their lives) but spend all of their time in front of screens.
I don't want to live in the middle of nowhere and earn 10x what the average local does. I want the people around me to be roughly on my level and share my interests. That's something that's easy to do in a city.
That's how businesses end up centering in hubs anyway. Who wants to be a startup founder living in the country alone? I'm sure this person exists, but they're the exception not the rule.
I mean, right now, you can look at a place like London and see hyperlocal clustering of wealth, one street will be the 'nice street' and the next one rough. People really care about this.
If you earned a London salary in my hometown you'd be ostracising yourself completely from those around you by virtue of just having none of the same concerns. Yeah, you own the home outright, you can buy a brand new car every 6 months, the price tags in the supermarket may as well be blank, etc. Oh yeah, and you have working hours whenever you want, booking a holiday is telling your boss "I won't be in Friday, guv". Wait until your neighbour tells you again how they're struggling to pay the bills or they've just been sanctioned by the benefits office.
I don't see how that benefits anyone.