Hey Rajarman this is a really interesting question, in my experience there are some real benefits to having locations that have a central x-functional discipline (ie Product+R&D) this has benefits in how the days are designed, what the working environment is like, how collaboration occurs - they key is that the underlying value set is aligned with the teams in other locations, who in turn benefit from environments that best suit their work.
The drawback here is that is certainly creates additional headaches with communicating between teams, although as you point out the remote-first environment many of us have found ourselves in has been a real accelerant of that.
Ultimately I think that regardless of geo it really comes down to org design, process and communication channels which to me feel like a forever iteration to meet the needs of an org at its given point of scale.