Obviously you are correct here. But there is the other option which is also bad. Businesses will have to raise their prices to cover the new cost of doing business (taxes). This will increase the cost of goods and services provided in their state and abroad (nationally and internationally). In the home state, the consumer pays the higher price and thus the tax increase (like you said, still no change just moving the pieces).
I think it would motivate companies to seek new homes. Companies leave, tax base shrinks, jobs go away, ......
I think the only alternative is for states to raise the sales tax - but they HATE that, because it’s not ‘Progressive’ ... LOL !!!