And I've worked in the in-between configuration, where remote first was US oriented. Our co-workers in Asia worked our schedule, or at times, overlapped a bit.
That includes organizations where there was no office (well, a condo in the Philippines, for people who wanted to collect occasionally or when local weather impacted connectivity).
It's easier if everyone worked a PST schedule, but in other instances... having hand-off overlaps allowed for teams to work independently but also leverage their counterparts.