We have something similar, the 2 days are not mandatory though, it would just be appreciated if people could make it to the office (this is just our team, other teams handle it differently). The two days were chosen as a team and we tried to accommodate everyones needs like childcare duties or and so on. We use the office days for collaborative tasks such as architecture reviews, peer debugging, idea brainstorming, drinking beer. And the days at home for actual implementation work, i.e. producing code. It has only been a couple of weeks and so far I believe it works quite well, we also said we will review if this is how we want to continue working in a couple of months. So it could be the same for you, but if you as an employee cannot shape it in any way and only have to follow rules, I would be a bit suspicious.