Is this one of those "repeat it often and long enough it will come true" things? I've been hearing it since at least the early 90's...
The problem is face to face works better than video-conferencing, it just does. Contrary to popular belief, most organisations aren't totally stupid and most people aren't on business travel for the laughs or the air miles (it would imeasurably improve my "well-being" if I never saw the inside of a train again...), they just know what works.
And no doubt your argument was valid in the 90's...with 90's video conferencing tech...and most big companies strapped to their own servers.
But it's 2020 and whole businesses (mine is one such) operate entirely "cloud-based". Since 50% of our work force, work from home (and 100% can if so required) video conferencing is utterly standard both internally and externally with all our major clients.
Moral of the story...commerce evolves...those that evolve with it survive, those that don't, don't.