Has anyone truly explored the Global Workforce yet with all the changes that COVID-19 has forced? How much value is there in having a team completely out of one timezone or continent? Do we have a true comparison of FrontEnd DEV to FrontEnd DEV from a salary perspective, in let's say California versus Kenya's iHub? Bottom line, value prop of going Global and fully remote?
Yes, there has been study of distributed workforces long before there was a remote work requirement. There is always value in team members being physically proximate to one another. Additional steps are always required to accomplish things with a distributed team. And if it's only about economics for you, I'm sorry, that's not enough of a reason.
While distributed workforces do have the advantage of access to a larger talent pool, nothing will ever be as efficient as being able to lean over the shoulder of another worker and do something together. Nothing will ever expose workers to new ideas, influence them by example, or have the same level of self-responsibility as when working in the same office together.
Distributed work is a choice, one you can plan for, knowing its weaknesses and benefits. There is value in both approaches, and it's a decision based on what you care about, not about one being better than the other.