It just depends on the situation and the person. For some people it's great, for some okay, for some horrible. Luckily, there are a wide range of employment options so you can chose employment that fits your needs/desires.

Well, it doesn't matter if you get twice the work done, if it doesn't advance the team twice as much.

If you're working completely independently, sure, work from home. Contractors have far more leeway than salaried employees in that regard.

If you're working remotely but as an integral part of the team, it doesn't matter as much that you're individually getting twice the amount of work done, if it doesn't dovetail with team objectives. Without constant communication, which is facilitated by in-person interactions and communication, the team might actually be working forwards more slowly.

It doesn't matter if you're coding two features instead of one in the same amount of time, if the two features never hit production and the one feature does.