This is really interesting - I wonder if, in our post-COVID world, we'll see other countries doing the same. I'm trying to see any disadvantages for countries that do this, but the only thing I came up with is the possibility of distorting local rental prices. But presumably if enough countries offered such a visa, applicants would be spread over those countries, causing less distortion.
I would love to work remotely from Europe. I would think it would be in the interest of European countries to make this kind of arrangement because I would be spending my cushy US salary on European goods and services and not taking a job away from a European.
I had the same idea 10 years ago and I'm still here after marrying one of the natives. But be warned, working remotely in Europe can be difficult. I'm 7 hours ahead of my coworkers in America, so my workday is roughly 1pm to 9pm, with continual slack messages coming in until midnight at times.