I don’t think there are enough such edge cases for it to make sense for it to be legal.
If a corp needs an employee to be that close, then they should hire local, and/or rotate staff.
At a bare minimum, I agree, no corp should profit off of housing.
They would probably actually have a decent shot at getting away with it, at least at first.
And to answer your question, it’s because the anger that companies generate by doing this shit ends up turning into piracy. Why would you try to punish a corp for doing this (likely wasting your time) when a cheap VPN and basic tech literacy gets you what you want?
The effort ratios are way out of wack when it comes to digital products. It’s easy to get around digital bullshitery, not so much in the real world where we are all car dependant.