> Whenever I've seen this done, the very best employees leave.

I took this to mean (a) be relative to the office specifically, not the industry generally, and (b) that those very best will get sick of the required face time, quit, and get a better job (the insinuation being that that better job will likely be majority or entirely telecommuting. I may have misunderstood the intent as I commented pretty much immediately after reading it.