Not to sound like a broken record, but while it might be "antiquated thinking" that is holding this up, this isn't new, this isn't unique to this topic. I've worked from home for close to a quarter of my working career, and I've almost always (I say "almost", but I'm being humble; I can only think of one and it was during a time I was NOT working from home) had stellar reviews. I've also left vacation time on the table for almost (again...) every year for at least the past decade. I know that good workers are going to be good workers regardless of what the circumstances are under which they are working.
But like a distinct minority of gun owners abuse their right, like a distinct minority of whites fail to see equality with our black brothers and sisters, like a distinct minority of immigrants fail to follow the laws of their new country, like a distinct minority of our elected officials take bribes and diddle little girls, we're always beholden to the outliers. It's always the extremes that drive the narrative. When you've got a P/L to run, when you've got a market that's not cooperative, it's not "antiquated thinking" that is standing in the way. It's controlling variables.
If some company institutes this, and for some - unrelated - reason the numbers don't come in, that executive is STILL going to have to answer for it. There are articles and articles about business practices that go against "common sense" (layoffs, bonuses, 360 feedbacks) and yet the "common sense" perceptions still persist.