It's perfect for my situation. First, I don't have a wife, minor children, or pets. In my job I can be extremely busy doing things for hours, and at other times I'm simply waiting around for something to process. Sure I could invent busy work but why?
My work is never negatively impacted by short times afk. And as necessary, I work outside hours which isn't logged since I'm on salary. In fact some operations just work way better when everyone else has quit for the day.
I never feel like I'm stealing time because my projects are " get it done by this date" and as long as I do, no one cares what I'm doing every minute of the day. I can go weeks without even talking to my boss.
The other benefit is, I work in a fairly locked down environment. It's super useful to have my personal computer next to me to use for research purposes when I'm troubleshooting (which is always).
Of course, personal discipline has to be trusted but I love the WFH model for my job.