There’s definitely value in relationship building. Chit chat you naturally do on breaks in person can also be done over video chat if it’s encouraged by leadership. This helps people bond, so when things get tough, it’s easier to band together towards the solution because of the stronger relationships.

Bingo. Context helps, a lot in some cases. It's hard to gauge what's happening, on your project, a different project, the company, the team, etc. without a little metaphorical-water-cooler discussion.