From the employee's point of view, yes. From the company's side, not really. Which may explain to some degree why workers are more likely to feel that they're more efficient working from home - they consider the commute part of the workday, and the employer doesn't.

They already did. It's in the article:

"Although they saved commuting time, this did not offset the extra hours spent in meetings."

This was my thought as well. I spend about 1.5 hours each day in traffic when driving to work.