Having worked from home for ~8 years, I don't think it actually makes that much difference - you still end up with a manager who is responsible for making sure they can handle problems you have or about you and asking you to do things, and you still have managers associated with the projects you work on (those may or not be in any way related).
The ones who randomly rearrange the seating however can disappear.
I am a manager that has been full-time WAH for 15+ years. A leader who understands their role should be empowering people to do their jobs, and providing them the tools they need to do it, be it in the office, at home, or on another planet even. That's what leaders do. If they think their job is to monitor and micromanage their teams, then they are not leaders, just bad managers. Leaders see the value in employees creating a situation where they increase their productivity. I really don't care where my employees work as long as they meet clearly defined goals and objectives. They know what they need to do, and I trust them to figure out how best to accomplish it!
The ones who randomly rearrange the seating however can disappear.
Reads to me like this is the exact chaff being separated from the wheat in the parent comment, and you know what: good. The less managers like that, the better for labor and the workforce at large IMO.
I think a few of us have had that manager and hopefully learned how not to lead and motivate people.