I work from home and I get the same amount of work done. However if you define it as, “Doing X amount of work in Y amount of time,” then yeah I’m less productive because nowadays instead of getting that work done in an 8-hour shift I take about 10–12 hours to do it.
Same work, same day, so my productivity hasn’t changed. I just take longer to do it by taking breaks, going out to long lunches with friends, and my stress level is almost non-existent!
I find that to be a very equitable trade-off: Almost no job-related stress for a slightly longer working day.