The less number of days workers go into the office, the less companies can justify renting the space and paying for the supplies. I think companies will begin to either go 100% remote except for on location workers that have to be there such as data center people, and others will try to go 100% back to office, and the latter will lose because the economic incentives are stacked against them. Increased cost, including a premium on talent willing to commute, make companies that do this less competitive. Unless you believe the water cooler has some property that boosts productivity significantly, in which case you're right. But I doubt it.