I had a long conversation about this with my Dad yesterday. He is an attorney who spent years working in fairly large organizations. Now he works from home most of the time.
I like how he explained his experience. He said that working from home removes many of the day-to-day negatives, such as a boss on your case and having to wake up even if you feel terrible. On the other hand, he said working from home also removes many of the positives, in particular, working with other motivated people.
I've tried for a couple of years now to get a group to work on side projects. The idea was to use video calls to meet and then work in a decentralized way. I've found it to be very difficult to keep the motivation high. Projects just starve to death. I wonder how different it would be if we had met in person.