This sounds like hell to me and a way to keep someone at the office longer so work becomes more ingrained in their day to day life. I don't want work and my life so connected that I'm going to dinner with co workers.
Discussing issues? Lets do that over a video call. Works really well.
Want to socialize? Thats what my friends are for. Guess what? Since many of us work from home we can actually walk to the local coffee shop or lunch place and talk about something other than work.
Want to get dinner? I'll go with my wife and because I don't have to commute home I might able be able to get a table before 8pm.
Everything you are describing sounds like it could be solved with having friends instead of only co workers.
EXCEPT for the hiring cheaper labor in x country. But that has already been happening. It will always happen. Sometimes more, sometimes less. There are massive dev and qa outsourcing teams located across the globe. Why doesnt everyone do it? Well there are a ton of reasons but if its been happening since the 90s its incredibly unlikely that in y or yy years it become exclusively the norm.