Just my opinion, but based on running remote and semi-remote teams since 2008 ... fully or mostly remote engineering teams are a competitive advantage, so, by definition, organizations that choose not to adapt to this reality will have a hard time competing.

Organizations can have a personal preference for co-located work, but, I think the marketplace will select those organizations out. I think this will unfold over single digit number of years.

From what I have observed, most of the resistance to remote work is really driven from the top; by less adaptable leaders.