I'm almost sure it won't work. Everything you mentioned is true but there's one even more important thing. There are plenty of people who literally don't care or dislike their jobs and would take every opportunity to work as little as possible. While this might work for Google & co. where employees are relatively happy and passionate about their work, it would fail spectacularly in other environments.

Also I don't think management can be fully blamed for dismissing remote work as it would represent a considerable cost-cutting opportunity. It's likely not worth it as the overall productivity would drop too much.