> I'd argue if a company depends too much on "spontaneous hallway conversations" for information flow/exchange, that should be treated as a problem to correct
I don't think this is a black-and-white issue. Sometimes a "spontaneous hallway conversation" clarifies in 5 min what a 30 min Zoom call would otherwise do.
3 of my coworkers and I coordinated a few months back to go in on a single day together. I was reading over a doc a coworker wrote and had a question about a portion and found him grabbing coffee and coming back to his desk. I just went over and asked him the question, he clarified, then we both sat back at our desks and got back to work; I was unblocked. If we were remote, I'd DM him and then stop reviewing the doc until I got an answer. I often context switch out of work I need clarification on since I have no guarantee that the coworker is even ready to help. Having state (in a meeting, not at your desk, at your desk, chatting with a coworker, etc) on coworker availability is very useful for efficiently working.
> Perception of decisions getting made in secret or without transparency
I'd argue that this is worse remote. When remote, a lead and a manager get into a VC call and hash out the team roadmap without any input from the team. They can reason it's a lot easier on availability and less disruptive on the rest of the team to make the decision. While the lead and manager offer the plan to the team for comment, the team feels demotivated because they have to read and push back rather than sit at the table for comment. In office, the lead and manager can discuss things at desks and interested employees can overhear and interject. It's not perfect of course (favors those around for the conversation), but it's better than the Zoom world.
I think hybrid remote-first work is the best of both options but I think most companies going fully remote will not go hybrid because the cost savings of doing everything online is just so much higher. As you noted, offline-first companies will treat remote workers and second-class citizens.