The only argument I can think of against this is the security/confidentiality argument and even then, IT in business campuses isn't necessarily any more secure than telecommuting is in practice. That's probably the excuse you'd hear, though.

The majority of people I know should telecommute 80% of the time yet no one does. Most still work 8-to-5 or 9-to-6 in a cubicle. It's not what I expected in 2015 onwards.

Like someone else said, a large part of it is generational. People born in the 60s and 70s still control all the shots in offices around the world and the generation isn't comfortable enough with technology on the whole to grasp telecommuting. They still believe that something about being in the office makes it preferable to working from home yet in most cases, can't back this belief up with any evidence. This is coupled the attitude that companies own their employees for 40+ hours a week and therefore deserve to have them on site just in case.

Anyway, telecommuting is definitely something that should be pushed and strived for but we need to change our attitude towards work and the standard work week first. Most people stopped being paid for their time half a century ago and we still haven't internalized that yet. Most office jobs entail as much mindless bureaucracy, busy work, and time wasting as they do actual work now and that's part of the reason job satisfaction is so low.

There is no logical reason why the majority of office drones can't stay home most of the time and only show up to the office for scheduled meetings.

I bet companies that start embracing this idea will see a lot of benefits down the road.