Yes. Agree. The only thing preventing this going all the way is the friction in timezones and difficulty in co-ordination (i.e. still requires someone local to the remote people to manage their work).
Well for my line of work (app dev/cloud consulting) there is lot of face time, video conferencing with clients, travel to client sites, etc.
But also many of our contracts have data governance requirements where you have to be US based and other government contracts require you to be a US citizen.