Maybe it applies to people slapping together node.js libraries, but otherwise developers need a working environment in which they can focus.
Creativity is not only about innovating at the bleeding edge, but also coming up with effective solutions, optimisation, designing software, organising code, etc. A lot of software development is creative work.
Besides, not being able to focus will also lead to increased stress levels, overlooking bugs and decreased productivity.
The big reason why management likes open office is, in my opinion, that those environments make them feel like they've got more oversight and control.
I work at a startup with open offices (my second) and the absenteeism blows me away. I really believe it is because the office is an unpleasant place to work. But hey, we have ping pong tables!