If everyone is honest/genuine it could probably work.
If the in-person team doesn't like working remotely because they prefer to communicate and make decisions in-person, those conversations/decisions will have to be propagated to the remote team, for the company to function.
My gut feeling is that at some point, an important decision will be made in-person and not propagated, leading to confusion, lack of coordination, etc. Then, politics will ensue because the in-person team might feel like they're making concessions to the remote-team, and that the remote-team is always lagging behind, that the bulk of the decision-making responsibility are on the in-person team's shoulders, etc.
If the in-person team doesn't like working remotely because they prefer to communicate and make decisions in-person, those conversations/decisions will have to be propagated to the remote team, for the company to function.
My gut feeling is that at some point, an important decision will be made in-person and not propagated, leading to confusion, lack of coordination, etc. Then, politics will ensue because the in-person team might feel like they're making concessions to the remote-team, and that the remote-team is always lagging behind, that the bulk of the decision-making responsibility are on the in-person team's shoulders, etc.
I'm 100% speculating, but I can see it happen.