If they wanna do crazy tracking they don't need you in the office. They can just force you to install Spyware on your computer and send you a Logitech Webcam that needs to stay on.
I'm glad I've always worked for sane companies. At the end of the day, you gotta treat the employees like adults. If you feel they aren't doing enough, fire them. Don't try and micromanage. But megacorps probably do see some minor bonuses to productivity otherwise they wouldn't do it.
It's just not worth the headache for regular companies, I think.