[lkozloff]

I don't think you're wrong here. Remote itself does unlock advantages that aren't accessible to colocated companies (e.g. hiring anywhere), but one of the primary things that remote-practices unlock are surrounding communication.

Organizations approaching remote have a helpful speedbump that encourages them to take an intentional look at the way they disseminate information. Being fully remote is an accountability structure that helps ensure that everyone is following those practices.

There's nothing that would prevent a well-run colocated company from capturing those particular advantages, but such a company would probably slowly drift remote as companies like Buffer (and GitLab!) have as they grow and look for new talent.