Flexibility about where and, to some degree, when/how-much, one works, plus how surveilled one is while working, is a status-related perk (and connected more broadly to social class). No surprise execs who are used to maximal freedom on those see expanding those perks to the peons as a threat to their own status.
"But what if they fuck off to play golf at 2:30 PM or sneakily take a vacation to the beach without using vacation time while in fact only working part of the time for that week?" says the exec, before fucking off to play golf at 2:30 PM and then help the spouse and kids pack for for tomorrow's vacation-disguised-as-a-business-trip.