There's a massive difference between globally distributed and locally distributed.
My team is in 4 adjacent timezones (East Coast to Pacific, our home office operates on Central), and it works fine. When I worked in a company that had a Pakistani dev team it was awful (for a variety of reasons, but time zone was a huge one).
These are fine, but it definitely favors west coast people (I'm on west coast) when most people are on west coast.
My east coast colleagues are sometimes pulled into things that go until 6pm their time. Most west coasters start their day around 9am which is east coast lunch, so those folks are usually "fully available" for maybe a 2 hour window. Again, maybe this is fine if a team is just a support team or does something not that meaningful overall. If you're pushing the envelope building new products, ideating, or figuring things out AKA you need a lot of collaboration, you will suffer in personal life in the current model.
My team is in 4 adjacent timezones (East Coast to Pacific, our home office operates on Central), and it works fine. When I worked in a company that had a Pakistani dev team it was awful (for a variety of reasons, but time zone was a huge one).