So the deep parts of the work are now the responsibility of the team, and in order to do that, the team needs to stay in constant communication. Yes, it's slower and less efficient, but the business values reliability and accountability at the expense of some efficiency.
This is why you don't get an office or even a desk -- you get about one linear meter of bench on which to set up your MacBook. This is why availability on Slack is paramount. This is why you're responsible for attending standup, planning, retro, grooming, Three Amigos, and whatever parking-lot meetings your PM has called throughout the week in addition to all the work you've committed to this sprint. This is why "sprints" in the first place.
If you work for corporate, odds are you've signed up to join a hivemind, with all that entails.