In 10 years we'll look back on these kind of discussions and laugh. The idea that human productivity is a corollary to office 'presence' is now absurd. Industrial centralization was arguably economically and socially necessary for 200+ years (especially when the alternative was serfdom) but this isn't the 18th century anymore.

Large cities made successful by centralization have become logistically hellish and expensive. It's become largely illogical to live in one.

Hybrid is a fudge and will be as burdensome for employees as it will be inefficient for their employers. Those that have hybrid forced on them will have to get used to endless scheduling admin "...is Ted in today? Has anyone seen Ted?". And in a split '2 days out' v '3 days in model' it's be hugely wasteful to have offices empty 4 days per week per person.

Companies insisting on in-person or hybrid have a dependency on their local job market. Two potentially terminal pressures with this: their local market will atrophy as the most marketable people choose to work remote roles. And they'll be disadvantaged against remote-only competitors recruiting the best and most cost effective talent around the world.