We are right in the middle of a scale effort. The truth is, we are all pulling 50's and sometimes a bit more, until quiet times. At those times, we make sure family / life balance is good.
In general, yes. That's the schedule when it makes sense. Mostly, we do what makes sense. Flextime.
All in all, the only real issue is when to have company wide meetings? Because we have accounts across the US, the middle of the day will work for everyone.
We all know what needs to get done, so we get it done. Lots of things simply don't matter when. It's all about the things that do matter.
In the past, when working in a more mature environment, yeah. Work the office hours, make sure they get what they pay for. Give a little, get a little when needed.