Could this speed up the shift to remote work? Why even bring people to the US when you can employ them where they live?
The big companies that dominate the H1-B applications already have offices all over the world and thousands of "remote" employees. They still have offices in the US where they need people locally.
Also H1-Bs are specific to The US so does not negate my comment about most countries and their attitudes to remote workers. Even if technically not allowed somewhere, no one’s going to start a campaign trying to deport remote tourist workers.
Remote workers pay local consumption tax while not draining value from the local economy.
H1Bs allow larger companies to out compete smaller companies with access to cheaper labor, simple as that.