I think WFH is great for individual contributors (especially software engineers) that are a fraction of a team that has some people who go into the office every day. It can be a really easy way to let those people focus and be productive without arbitrary hours.
However I have seen what happens at a company that is all-remote and it can be a disaster. My girlfriend worked remote for Cisco for 2 years and almost nothing got done. The latency on all-email communication was too high and you never knew what was going on because nobody had a full picture of the state of the project. It was a total mess.
I can't imagine an all remote team that relies on email. I've worked remote my entire career and chat is the lifeblood of a remote company. In essence, the chat server becomes the virtual office. When people sign on in the morning, you know they are there. People say bye before signing off (leaving the office). There's a #watercooler channel for people to have idle chitchat. A project manager can ask a question in the project chat room just as they would the teams open office room, etc.
However I have seen what happens at a company that is all-remote and it can be a disaster. My girlfriend worked remote for Cisco for 2 years and almost nothing got done. The latency on all-email communication was too high and you never knew what was going on because nobody had a full picture of the state of the project. It was a total mess.