This.
It's the only major reason to bring people back to Urban centers. Real estate, both commercial and residential, would take a hit in every high cost of living urban center. City centers, like Seattle, have been begging Amazon to bring workers back into the city.
This may be a bit bias on my part from what I've seen, but businesses are finding that remote workers just do their job - nothing more. No white-boarding sessions. No coffee chats on cool ideas. No being pressured into doing some weird prototype.
I work for a MAANG company and get nasty emails monthly about my "attendance". Yet, I have in my contract that I work a week in the office and a week out of the office.
¯\_(ツ)_/¯