One of the downsides is managers think we don't do anything all day as they can't stand over us monitoring for efficiency, so insist we are available at a whim on Slack, which makes Slack the new open office where you have to stop reasoning about what you're building and answer somebody's meme post on Slack or a manager's musings that would've been an email in the past you could reply to later. To me this is just as great as disturbance as the door opening to the foozball and video game room with a crowd of people yelling.
When management don't understand how to gauge productivity they resort to this "ass-in-seat" metric. It's the circumstance I've dealt with in most of my software positions and also the source of most friction to WFH or remote employees.