To add, I couldn't walk out knowing I have the chance to own something. That's the biggest reward IMO, and where the real answer lies. Sounds like the difference of making a good salary and being well-off and set for life. What are the chances of that happening though, and the risk it doesn't just seems minimal with how easy you can always land another job that pays better (by your own admission).
I'd take a good pay cut to work from home, and I know a lot of others that would. Those that are cut out for it that I know (you seem to be as well) say no way in hell would they go back to a modern office job after their work from home, not even for double salary...
The ownership deal is a carrot they are trying to dangle to get away with underpaying their most valuable employees. By their own admission there is no plan or timeline. It could happen in 3 years, 20 years, or never.
I am pressing for more solidity to that in order to decide to stay, but right now it's too nebulous to be a major decision factor.