Something I realized is that I am not seeing Managers, Directors, and VPs moving.

Could be age / career related - VPs of big companies are usually experienced professionals, so they have strong(er) roots in the Bay Area, with kids in school.

But the number of management moving out is ZERO - at least anecdotally. Once we're allowed to go back to the office and they all go, how long until tech leads and architects also follow? Then "interns and junior employees should be at the office so it's easier to mentor", and then remote becomes something mid-level and seniors-who-plateaued or a CLM position. Which is fine, if you know the tradeoffs...