A lot of people (thought granted not everybody) find that after spending some time in a collaborative environment the background conversations move from being a distraction to an undercurrent of information. It becomes possible to tune it out but still hear keywords that might be relevant and allow for better teamwork.
Research doesn't bear that out. Multitasking reduces efficiency, interrupts and context switches hurt. If, for your specific workload, you find it's a net gain... well, more power to you. It's not one-size fits all.
That's true but your way has high latency. Conversations happen much faster.
That's the point. 'My way' allows my coworkers to decide when they can be interrupted. 'Your way' allows people to demand focus.