Open floorplans are worse than cubicles. Not worse than four people crammed into a sweaty two-person cubicle, but worse than 1-2 people in a cubicle. Significantly, obviously worse. We've gone from half-walls to no walls.
Personally, I find cubicles to be the worst of both worlds: too spread out for much collaboration with neighbors, but open enough go have nearly all the noise and distraction of an open office.
If your business structure is so terrible that you can't manage a remote team, you're probably not that great at managing folks onsite either.