This plus the "make your own schedule" organization that installs itself after the first weeks/months, and you can finally reach the peace of mind one, as an individual, needs to thrive.
That being said, I can understand the reluctance of the management, since they're basically losing control of both time and space of their teams. Which can be quite scary if you're not prepared.
But hey, managerial inertia should be fought if everyone else is happy.