I have never met my boss or any of my coworkers in person.
I do highly technical work, on a team that only hires very senior developers who have prior remote work experience.
And I can say, it is NOT for everyone.
If you do not have a life out of work, if you live alone, if you do not have a good network of real friends and/or family, or what you would consider an area "home", that's a problem.
My problem? I have almost all of those issues at the moment. I do have a work/life balance, but I don't do much with the "life" part. My close friends have scattered as they got older, had kids, moved around to different states for work, and I didn't put effort into finding new ones.
I can live wherever I want, but I don't know where I want to live! I can even move to Europe as I am a dual US/Irish citizen, but I don't know where I would want to go in Europe!
I have lived in so many states in my life already, I don't have a "home" really, so that's an issue also.
It seems great, but it comes with drawbacks. I'm working on them, while working on work.