I'm absolutely over the rhetoric about how you need to be in the same office to have any sort of culture. There are online communities every where, they all have their own culture, their inside jokes, their group think, etc etc.
Maybe I'm just a bit bitter about the topic but I grew up online, I find online social connections to be equally as strong as offline ones. I guess I just feel the whole counter argument is baseless and unproven and not held up by anything more than survivor bias, industry norms and what people say investors hate to hear.
The pros easily outweigh the con's. Some teams it will absolutely not work. Some teams its the best way forward.