I agree for all the reasons you mentioned, and another one: Clear separation between home life and work life.

I differentiate between my work persona and my home persona. It is pleasing to have a clear line between them. My long commute gives me time to get into "work mode". I dress up (more formally than my work requires) in order to further get me into the "I'm working now" mindset. A sterile, gray cubicle with no "homey" distractions lets me focus on my work. My reptilian brain needs this clear line separating my two worlds.

If I worked from home, I'd be blurring the line and both my work performance and my "familytime performance" would suffer.