How does this work when some people have families and don't want to live and be friends with work people? Are they ostracized? What if I have hobbies, friends from HS or college, siblings, etc. and want to spend time with them instead of increasingly with my workmates. This sounds like it's going to increase cliquey-ness, not improve culture.
There is already an old model out there that sort of already lives this way: IT or management consultants who travel every week. I did this for 10 years. You become great friends with your colleagues - until the project ends or some other break occurs. Then...nothing, unless keeping in touch on each other's birthdays on Facebook is enough for you.
In retrospect it all felt very vapid and superficial - just people trying desperately to make connections to get them by, but not much "built to last."