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It's all about the timezone.

You can take 4-5 hour difference top, that leaves you an afternoon to work together and talk when you need to.

Any link with >8 hour difference is doomed to failure, you can't communicate at all.

On top of that, you need to all be extremely experienced and autonomous, and you need to have regular trips to meet in person.

I'm on a remote dev team in three states, but luckily the same time zone. To me, the timezone issue is much bigger than remote or not. Whiteboard - that is one thing I miss, but I lost that while I was in the office!

The grass is always greener..