I can see this working in some offices, for sure. And it can kinda work in our office. But depending on the position in the company, the type of work you do, etc.... that space can need different things. Our line of work is also HIGHLY unpredictable, so trying to schedule anything on a weekly basis is extremely difficult.
I actually think shared spaces like you're describing could work, but it wouldn't be exactly as you described. Our offices have traditionally been setup to accommodate 36x48 drawing sets, so you're talking really big desk spaces all over the place. It's becoming more and more rare to flip through a physical set of drawings these days, and most of us utilize smaller (18x24 or 11x17) drawing sets in everyday work. So desk spaces, drafting tables, etc...are currently kinda oversized. We would probably do better to create some large shared spaces capable of flipping through huge drawing sets, but each imployee desk could theoretically shrink. If combined that with an upgrade to our presentation equipment in conference rooms, then I think you could theoretically shrink the total SF of the office by 10-20%, and still maintain all the current functions.