This is no different from company towns back a hundred fifty years ago. I wouldn't want to have to be entirely reliant on the company for food and shelter.
It's common in China, rural workers in dorm style housing. Occasionally go back home.
Google employees can have a morning exercise together and sing songs about how great Google is. It will boost moral and productivity which is good for the share price.
The core problem with a company town is them having control over the entire town.