Follow the sun is great for on-call rotations, but I'm my experience, for regular project work, the need for a handoff each day ends up being too much overhead. The teams in vastly different time zones wind up working mostly independently on completely different projects.

That's for stuff that requires 24/7 support, not some harebrained project management technique that will make all your teams hate you

It brings its own set of communication and cross-cultural challenges.