1. You can live in a less expensive area, (i.e. miles away), and work in a major center. This makes both possible of talent being able to live cheaper, and be able to work where they want (less geographical restrictions), which unlocks greater efficiency of the work place.
2. The alternative? Most people living with few tens of miles of workplaces, prices of living raise up of these hubs, you end up with both more expensive workforce, and less flexibility, and some people just decide to leave. The only winners in this scenario are current landlords.
Right now SF is experiencing scenario #2.
Basically once you have super fast transportation, it relieves pressure to housing prices on the work hubs/city centers, and the values of homes where the high speed train/hyperloop/whatever stops increase to match the new accessibility.
Real Scenarios: You can comfortably live in Baltimore or Philadelphia (2hrs of driving currently) and be able to work in NYC if this commute was cut to 40mins or less.
It is a win win scenario, as all these cities become part of one single hub.