My current start-up doesn't have an office. A bunch of us tend to meet about 1 day per week (because there are some things which face-to-face helps with). Two of us are tens of miles apart and others are in another country and indeed travelling.
My previous start-up had a biggish remote office thousands of miles away, which I intermittently managed, but not really a fixed base for me.
In fact, I haven't really had a paid separate 'office' for about 20 years, and I seem to be doing OK as are my businesses.
So, to claim that remote working does not work is wrong.
Note: I've also worked with charlatans in two companies who were nominally 'in the office' but ripping off the employer. One had the misfortune to apply to work full time (and be accepted) for two of my clients and end up sat next to me at both. That didn't last long! The point is that 'not remote' is no guarantee of success either!