Teams certainly need the flexibility to adjust their organization in order to best accomplish their goals. Most of the problems with large corporate bureaucracy come because someone up the chain wants to impose control by dictating how every group organizes.
However, at some level there needs to be a team of people working together to accomplish goals, and that team needs a program to get with. Now, if all that is meant by "come when you want" is that each team is free to determine what their own program is, then I misunderstood the point being made and my original comment on it does not apply. There does need to be some sort of accountability, though, or the team dynamic collapses. In the context of a company, this has to be integrated with whatever policies the company as a whole has.